Today, it was announced that CSR has entered into an agreement to sell a 2.6 ha industrial site (a former Pilkington glass factory) at Alexandria, inner Sydney, to Bunnings for an undisclosed sum. I support the management streamlining proces of realising surplus assets and focusing on improving efficiencies and growing margins of existing operations. It could also be beneficial if some major political initiatives (at both federal and state levels) occur soon to help kickstart construction activity.
With recent and pending asset sell-offs, it further seems to me that the company may be building a warchest of cash for applications it may have in mind. I hope these includes a generous capital return to its loyal shareholders,
CSR Price at posting:
$5.45 Sentiment: Hold Disclosure: Held
