CSR future optimistic
BUILDING products supplier CSR says its outlook is positive as housing starts look likely to climb to record levels, with more than 200,000 expected in fiscal 2016. “The lead times from approval to construction means strong demand for our products should continue over the next few years,” managing director Rob Sindel told shareholders at CSR’s annual general meeting yesterday. He said an increasing number of people wanted to live closer to where they worked, which was fuelling demand for multiresidential housing closer to city centres. The sector now represented about 45 per cent of all Australia’s new dwellings. Mr Sindel said CSR’s brickmaking joint venture with Boral – formed in May – was expected to generate initial overhead savings of $ 7 million to $ 10 million a year once the two businesses were fully integrated.