Construction materials group Adelaide Brighton expects sales to grow and is looking at acquisitions after notching up a record annual profit.
Shares in the company rose 8.2 per cent as it forecast an increase in prices and sales for the year ahead after lifting profit 14 per cent to $173 million in 2014.
Chief executive Martin Brydon said the company's prospects had improved after a difficult start to 2014.
"We are looking for sensible, strategic, high quality assets," he said.
"The record profit was driven by earnings growth in cement, concrete and aggregates and concrete products."
Operational improvements delivered benefits of $19.7 million in 2014, but the company has no plans for more redundancies at this stage.
Adelaide Brighton expects volumes to grow in 2015, thanks to the cement and lime businesses, the company's biggest earners.
It is also looking to sell some sites, including its limestone facility at Munster, Western Australia.
The company predicts increased sales in Western Australia and improved demand in Victoria, New South Wales and Queensland.
It said the removal of the carbon tax, lower transport fuel costs and higher prices would more than offset higher gas prices and currency related margin pressure in 2015.
Adelaide Brighton's net debt increased to $360 million in 2014, up from $248 million the previous year.
Its shares gained 29 cents, or 7.5 per cent, to $4.18.
ADELAIDE BRIGHTON HITS RECORD PROFIT
* Net profit of $172.7m, up 14pct from $151.1m in 2013
* Revenue of $1.33b, up 9pct from $1.23b
* Final dividend of 9.5 cents per share, up from 9 cents
