Ann: CSR Full year results presentation year ende, page-2

re: Ann: CSR Full year results presentation y... Sydney - Wednesday - May 13: (RWE Australian Business News) -
CSR (ASX:CSR) lost $326.5m in the year to March 31 compared with a net
profit of $177.4m in the previous year.
The company suffered asset writedowns, restructuring costs and
increase in product liability provision resulting in significant items
of $532.5m (before tax) including non-cash impairment charge of $279.7m
(before tax) to reduce the carrying value of the Viridian glass business
last year.
Earnings before interest and tax (EBIT) was $320.1m, down 17pc
and in line with guidance issued on February 18.
Improved earnings from the sugar business were not sufficient to
offset the impact of the ongoing deterioration in residential and
commercial construction markets and the significant decline in the
aluminium price, particularly since November.
"The result reflects a year during which we faced significant
headwinds across most of our businesses," managing director Jerry
Maycock said.
"In response, we remain focused on the issues within our
control. In Building Products we've taken decisive action to reduce
costs, control working capital and capital expenditure and adjust
manufacturing capacity to the current market environment.
"Meanwhile, we continue to focus on generating further ongoing
operational improvements to position for growth as the cycle turns.
"Our Raw Sugar business is benefiting from higher realised raw
sugar prices and further operational improvements in the mills to
enhance our internationally competitive position.
During the course of the financial year CSR strengthened its
balance sheet following the completion of a successful institutional
equity placement and an entitlement offer to both institutional and
retail shareholders, raising a total of $349 million before costs.
The company also issued 50,489,525 new shares through its
dividend reinvestment plan (DRP).
A total of 303,332,552 shares were issued through the financial
year, resulting in a total of 1,286,059,187 shares on issue as at 31
March 2009.
The Board has declared a final dividend of 1.5c, fully franked,
bringing the full year dividend to 7.5c, half the 15c paid in 2008.

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"Especially under the current volatile market conditions" CSR
considers it inappropriate to forecast this year's earnings at this very
early stage of the year.
It expects to be able to give at least directional guidance with
the benefit of the first quarter trading information at the AGM on 9
July.