This article is from the Australian Property Journal archive
ALUMINIUM products extruder and distributor Capral is expecting conditions to soften in the second half of 2023 in line with residential building volumes, but is betting that commercial and industrial will remain at “relatively high” levels.
Sales revenue for the first half decreased 5% on the same period in 2022 to $333 million, largely due to lower metal prices. EBIT dipped to $20.1 million while net profit after tax fell from $22.2 million to $1.6 million.
Capral has a 27% market share and recorded turnover of $680 million in the past 12 months.
The group has six plants, eight distribution centres and 12 trade centres. It acquired an aluminium centre in Wollongong during the period.
“Capral has enhanced its diverse industry exposure, especially in transport and commercial construction. Together, with a good pipeline of work continuing in residential building, this reflected in our overall volume remaining strong,” said managing director and CEO, Tony Dragicevich.
“We have the ability to more effectively partner with customers to provide bespoke and innovative intermediary solutions through the largest footprint of manufacturing sites and distribution centres in Australia. This has allowed us to create additional higher-margin solutions to generate a favourable sales mix, and thereby maintain profitability at close to record levels.”
It paid an interim dividend of 20c per security for the half, in line the 2022. A share buyback of up to 370,000 shares at circa 15c per security for the second half was announced.