Building Boom Boosts Brickworks

Building products and property group, Brickworks Ltd has confirmed it is expecting better than anticipated earnings for the 2015-16 financial year, thanks to buoyant building activity coupled with a higher than expected contribution from its property development arm.

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Brickworks Underpinned By Dwelling Activity

One of the best residential construction scenarios in many years underpins the Brickworks (BKW) building products business. This segment of the company is benefiting from the upturn in dwelling activity, with improved volume and profitability in bricks, roof tiles, masonry and pre-cast concrete. Investment and property earnings, while remaining relatively stable over the longer term, are likely to take a back seat in FY15.

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Brickworks Enjoys Benefits Of Housing Recovery

Brickworks (BKW) has maintained that FY14 earnings should comfortably exceed FY13. The proportion of the segments contributing earnings to the building material and investment conglomerate are seen changing, nonetheless. Brokers expect that building products will increase, thanks to a housing recovery, while the contribution from investments, notably in thermal coal, will decline. The property trust joint venture is expected to become increasingly important.

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