January 26
Get your house in orderGet your house in order
Article from Edmonton Journal:
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Renovation slump hits building supplier
Article from The Canberra Times:
Building products distributor Alesco has warned its full-year profit could fall by more than a third because of the downturn in home renovations.
The construction, mining and home products provider said trading activity in December and January had been difficult and it does not expect an improvement in the detached housing and renovation sectors in the short term.
As a result Alesco fears its net profit, excluding significant items, will be 30 to 35per cent lower than the $ 15.3million it posted in 2010-11.
The warning came as the company, which makes garage doors, cabinets and window products, unveiled a lift in first-half profit yesterday.
Its net profit rose to $ 7.2million in the six months to November 30, from $ 1.8million in the previous corresponding period.
But revenue fell 5.1per cent to $ 274.6million.
Chief executive Peter Boyd said home renovation activity slowed significantly in the first half compared with the same period in 2010. ”This was particularly evident in the new detached housing segment which we estimate was down approximately 10per cent for the six month period ended November 30, 2011,” he said.
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In the Home
In the Home
List Price:
Price: 36.00
