Adbri (ABC) shares hit on small contract loss
Adbri Limited (ABC) -25.4%: formerly Adelaide Brighton, tanked today on Alcoa electing not to renew a supply contract up for expiry in 12 months’ time. The lime supply contract was worth around $70m in annual revenue for Adbri, though there are no material impacts to revenue until after the current contract rolls off next year while management is looking to replace the lost business in the meantime. The contract was only around 5% of the group’s revenue but it was a big hit to the share price today.
Adbri Limited (ABC) Chart
