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CSR - CSR LIMITED


fisher1

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  • 7 years later...

No Posts on CSR in almost 8 years.

Guess its not fashionable.

Up a fair bit today, to go along with recent increases.

Now within spittin distance of a 52 week high.

Not a bad dividend at 14 cents, and going ex div in two weeks.

I bought theses and some Boral back in June when building stimuli in Vic were announced.

Happy with both of them.

Mick

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  • 9 months later...

CSR has quietly become a property powerhouse, revealing on Thursday it will make an estimated $230 million pre tax profit from the staged sale of a 52 hectare former brickworks site at Horsley Park in western Sydney.

 

The announcement came as CSR, better known as a building products manufacturer and part owner of an aluminum smelter, sold the final 12.4 hectare parcel to data centre company NextDC for $124 million.

 

CSR has owned the Horsley Park land for five years.

The site came in as part acquisition of the Boral business when we concluded our joint venture of our two bricks business, a spokesman said. One of the benefits of being in a business that is 160 years old is your manufacturing footprint is pretty old.

Profits from the site, where remediation and civil works on two of the six tranches are already complete and occupied by the buyers, will flow through to the CSR bottom line over the next four years. CSR will net $408 million from the site sales, spending around $178 million on development costs.

 

CSR said it still controls more than 300 hectares of development land in western Sydney, including 200 hectares in the Western Sydney Airport precinct rezoned industrial last September, the value of which has almost doubled in two years.

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