News: CSR H1 profit gains 13%

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CSR Limited (ASX:CSR) has posted a 13 per cent increase in its first half profit, coming in at $34.9 million.



The building materials manufacturer says the result was achieved through lower net finance costs and an increased contribution from its property division.

In the same period revenue dipped 4 per cent and earnings before interest and tax dropped 18 per cent.

CSR has forecast its full 2011 financial year net profit before significant items will come in at the lower end of the forecast $82 million and $100 million range.



A fully franked interim dividend of six cents per share has been declared.



In the 12 months to March 31, 2011 CSR reported a net profit of $534 million.