Adelaide Brighton profit falls

Group says weak building and construction sector hurt result.

Adelaide Brighton says the building and construction sector remains weak, as it reported a fall in first-half profit that missed market expectations.

Net profit for the six months to June 30 slipped to $60.9 million, 8.8% lower than the previous corresponding period. Consensus forecasts were for $66.7 million.

But revenue for the first half rose 4.5%, to $579.3 million, from $554.5 million in the first half of 2013.

The group will pay an interim dividend of 7.5 cents, fully franked, in line with the previous corresponding period.