Adbri, one of Australia’s largest cement, concrete, sand and gravel suppliers, suffered a share price tumble of 17 per cent on Monday that wiped out almost $300 million from its market value as wet weather disruptions and surging fuel and energy prices ate into profits.

The company could not lift the price of its products fast enough to stay in front of accelerating inflation. Chief executive Nick Miller said it would implement a third price increase for calendar 2022 on September 1.