Once CSR receives the proceeds from the Viridian Glass sale it will be debt free.
The land bank CSR owns has an expected life of 10 years of development and is a generally unknown golden nugget hidden within CSR. They just don’t make any more land and it is an extremely valuable asset and a great hedge against volatility in its building materials businesses.
The real question is what management does with the property development profits. I hope they invest them in new products and businesses.
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