Very disappointing further downward revision of guidance given...

Very disappointing further downward revision of guidance given in May. The softening of residential and construction markets makes you realise why in part the RBA has reduced the cash rate.

Thank god that the Liberals remain in power and we don’t have capital gains and negative gearing changes that would spiral down even further demand.

For me, I will hold and wait out the cyclical turn, ABC like all other building materials companies will be worth a closer look if depressed prices continue.