Ailing glass division pushes CSR into the red

Date: 20 May 2013
Source: www.businessday.com.au

Date: 20 May 2013

CSR has warned its glass division will continue to be a drag on its performance in the year ahead, despite a $196 million provision booked against it in the latest financial year.

The difficulties  were compounded by an across-the-board slump caused by the weak home building market, which pushed CSR into the red in the year to March, resulting in a net loss of $146.9 million.This reversed the profit of $76.3 million earned a year earlier.

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