Leading building products company, CSR Limited (ASX: CSR) has appointed highly experienced Julie Coates as the Chief Executive Officer and Managing Director (MD) of the company following the retirement of Rob Sindel.
Ms. Julie Coates is currently the MD of a major food products manufacturer and distributor, Goodman Fielder Limited. According to CSR Chairman, John Gillam, Ms. Julie is an outstanding senior executive with broad experience and leadership qualities. Her appointment could support the continued strengthening of CSR which will create further value for shareholders.
Besides that, she also has a strong track record in manufacturing operations as well as large-scale complex supply chain and logistics expertise. With a deep understanding of product, brand and marketing, as well as digital transformation and global sourcing, she will be a significant contribution to the company’s management team. According to John Gillam, Ms. Julie’s skills will help the company to adapt to change, innovate and pursue growth.
Ms. Julie is going to take up the role of Rob Sindel who has led the company’s business for eight years. Under Mr. Rob Sindel’s leadership, the company touched a new height of excellence and it has now become more resilient through a focus on high quality operational outcomes.
CSR Limited is one of the oldest manufacturing companies in Australia, operating with well-known trusted Brands. CSR’s products are a core part of the industry that creates homes and buildings where people live, work and play. The company’s scale and network brings together those in the industry that believe in creating great spaces. The company is developing new systems to make it easier and faster to build and inspire smarter, more connected homes and buildings.
For the full year ended 31 March 2019 (YEM19), the company reported revenue from continuing operations of $2,322.8 million which was 4% higher than the previous corresponding period (pcp). Further, CSR delivered EBIT from continuing operations of $265.0 million which was 17% lower than pcp. During the years CSR Building Products business performed well with revenue of $1.7 billion, up 1% on pcp with growth across most products and segments.
YEM19 Building Products revenue (Source: Company Reports)
For its Building Products business, the company has been following a consistent strategy of improving the profitability of its existing portfolio of businesses, aligning production to demand and investing in customer service and new products. The company has invested heavily in innovation and new building systems which will help improve construction methods in Australia. These investments have also ensured that the company is more resilient to future changes in the construction cycle.
In the past six months, the share price of the company increased by 9.09% as on 15 May 2019. At the time of writing, i.e., on 16 May 2019 AEST 12:29 PM, the stock of the company was trading at a price of A$3.390, up 0.893% during the day’s trade with the market capitalisation of ~A$1.69 Bn. It is trading at a PE Multiple of 21.680x.