News: CSR explains low share price

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CSR Limited’s (ASX:CSR) Chairman, Jeremy Sutcliffe, has sought to address the building materials manufacturer’s share price at the company’s annual general meeting.

Mr Sutcliffe says while there are many factors that determine a company’s share price CSR’s core Australian residential and commercial construction markets are under extreme pressure.

While Mr Sutcliffe sees reasons for optimism in the medium term he believes both sectors are likely to remain challenging in the short term.

Mr Sutcliffe has also explained the most significant impact of the company’s share price is the downward pressure on the Australian dollar price for aluminium.

CSR posted an 85 per cent drop in its full year net profit, to $95.9 million.