In its latest financial report, CSR Limited (ASX: CSR) , a manufacturer of building products and materials, revealed a 17% surge in net profit after tax (NPAT before significant items) for the year ending March 31, 2023, reaching AU$225 million versus AU$193 million in the preceding year. The firm also disclosed that its trading revenue increased by 13%, with earnings before interest & tax (EBIT before significant items) amounting to AU$330 million, a rise of 13%.
The increase in earnings was primarily driven by the Building Products segment, which reported an EBIT of AU$273 million, up 20% due to good end market execution, disciplined price, and cost management. The Property segment reported an EBIT of AU$72 million, up from AU$47 million, and the Aluminium segment reported an EBIT of AU$8 million, down from AU$40 million due to higher raw material costs. The company also purchased AU$36 million shares in an AU$100 million on-market share buyback in July 2022.
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