News: ABC Adbri Says Improvement In Housing Approvals In 2H20 Is Translating To Commencements

Feb 23 (Reuters) - Adbri Ltd (ABC) :

• SEES TRADING CONDITIONS TO REMAIN CHALLENGING UNTIL STIMULUS MEASURES COMPLETELY OFFSET UNDERLYING SOFTNESS IN EAST COAST CONSTRUCTION MARKETS
• TARGETING $20 MILLION IN COST SAVINGS TO COUNTER COST HEADWINDS OF $10 MILLION IN 2021
• CAPITAL EXPENDITURE IS ANTICIPATED TO BE AROUND $200 MLN IN 2021
• SURPLUS LAND SALES ARE EXPECTED TO GENERATE $20 - 30 MLN IN PROCEEDS OVER NEXT TWO YEARS
• IMPROVEMENT IN HOUSING APPROVALS IN 2H20 IS TRANSLATING TO COMMENCEMENTS