Adbri To Benefit From Imminent Recovery of Australian Residential Construction Activity

We're positive on the strategic direction of Adbri. The strategy focuses squarely on operational efficiency, the continued pursuit of greater vertical integration downstream into concrete and aggregates supply in all of Adbri’s markets, and growth of the Western Australia lime business. A persistent focus on operational efficiency aimed at constantly improving the business’ cost position is an imperative—in our view--for any business like Adbri, which is subject to cyclical profits.