re: synopsis of report "Rinker net profit up 52pc to $US365m in...

re: synopsis of report "Rinker net profit up 52pc to $US365m in first half
By RWE Australian Business News, 09 Nov 2005
Sydney - Wednesday - Nov 9: (RWE Australian Business News) -
Rinker Group Ltd (ASX code: RIN) lifted net profit 52 per cent to
$US365.5 million in the six months to September 30 from $240.4 million
for the first half of last year.
Revenue rose 19.6 per cent to $2.55 billion from $2.13 billion.

Earnings per share rose 54 per cent to US39.2c from US25.5c.

Interim dividend has been doubled from A7c to A14c, payable on
December 12 to shareholders registered November 25.

However, the dividend will be only 60 per cent franked, compared
with full franking for last year's interim.

The increase in dividend aligns with Rinker's move towards an
annual dividend payout ratio of around 35 per cent of net profit.

Directors said the improved result was due mainly to volume and
price gains across almost all businesses, particularly in Florida and
Arizona, together with US$23 million in operational improvement savings.

These gains more than offset cost increases in fuel, power and
raw materials.

*****

Chief executive Mr David Clarke said the result was strong and
the consistency in the performance of Rinker's operations was pleasing.

"Earnings per share have grown 29.2 per cent per annum compound
over the past five years while sales and EBITDA have grown 15% and 20%
per annum compound respectively. This result continues that growth."

Rinker continued to benefit from its strong regional positions
in the US with solid demand continuing in the housing and infrastructure
sectors, along with the recovery in non-residential construction.

The value of construction activity in Florida and Arizona has
increased, in real terms, by an average of 10% and 8% a year compound
over the past 15 years, respectively.

This compares with 3% across the US"