Brickyard FY22 Net A$854.4M Vs. Net A$239.2m >BKW.AU


By Stuart Condie


SYDNEY – Brickworks Ltd. increased its dividend after its annual profit more than doubled on strong sales of building materials and improving property income.

The Australian-listed company on Wednesday reported underlying net profit for the 12 months to July of A$746 million ($499.0 million), up from A$288 million a year earlier.

It raised its dividend from A$0.40 to A$0.41, maintaining a streak from 1976 of raising or maintaining its dividend.

On a statutory basis, net profit increased from A$239 million to A$854 million. Revenue rose 28% to A$1.09 billion.

Brickworks’ real estate unit generated earnings before interest and tax of A$644 million, out of a total of A$982 million. Building products Australia contributed EBIT of A$153 million, and building products North America contributed EBIT of A$25 million.


Write to Stuart Condie at [email protected]


By Stuart Condie


SYDNEY – Brickworks Ltd. increased its dividend after its annual profit more than doubled on strong sales of building materials and improving property income.

The Australian-listed company on Wednesday reported underlying net profit for the 12 months to July of A$746 million ($499.0 million), up from A$288 million a year earlier.

It raised its dividend from A$0.40 to A$0.41, maintaining a streak from 1976 of raising or maintaining its dividend.

On a statutory basis, net profit increased from A$239 million to A$854 million. Revenue rose 28% to A$1.09 billion.

Brickworks’ real estate unit generated earnings before interest and tax of A$644 million, out of a total of A$982 million. Building products Australia contributed EBIT of A$153 million, and building products North America contributed EBIT of A$25 million.

Profits for the Australian unit fell from A$48m a year earlier, but chief executive Lindsay Partridge said its performance would have been even better had it not been for Covid restrictions, supply chain pressures and the unprecedented levels of rain that have hampered construction work on Australia’s east coast.

“Underlying demand was strong throughout the year, but sales momentum was repeatedly stifled by uncontrollable events, preventing the business from reaching its full potential.” he declared.

The company’s diversification meant it was well placed to weather heightened macroeconomic uncertainty and recession fears, Mr Partridge said.

Brickworks’ proprietary joint venture with Goodman Group had a strong development pipeline, he said, and the company was exploring development opportunities in North America.


Write to Stuart Condie at [email protected]

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