Business
ASX 200 goes higher, Afterpay sinks, Adbri impresses on Tuesday 23 February 2021
The S&P/ASX 200 Index (ASX: XJO) rose by around 0.9% today to 6,839 points.
Here are some of the highlights from the ASX:
The Adbri share price was the best performer in the ASX 200, rising by 10.5%.
Construction business Adbri announced its FY20 report, showing that revenue dropped by 4% over the year to $1.45 billion. It blamed lower residential activity which affected its concrete and cement volumes. This offset improved sales of lime and concrete products.
Underlying net profit after tax (NPAT) fell by 6% to $115.6 million, but this was actually better than the guidance that it had previously given before it was withdrawn due to COVID-19.
It generated $93.7 million of statutory profit, with cashflow from operations growing by…
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