Brickworks profit triples but kiln costs running hot on gas crunch

 Despite building material manufacturer Brickworks (ASX: BKW) announcing a record underlying profit of $746 million for FY22, the company flagged it will face softer demand in the second half as rising interest rates impact the housing industry.

The group’s revenue grew to $1.09 billion year-on-year, reflecting an increase of 28 per cent. This was primarily driven by an uplift in the company’s North American brickmaker division, where revenue almost doubled to $399 million.

Meanwhile, the Building Products Australia segment recorded $694 million in revenue and an underlying EBITDA of $205 million – which includes an $89 million profit associated with the sale of properties into the Brickworks Manufacturing Trust.

Read More: https://www.businessnewsaustralia.com/articles/brickworks-profit-soars--company-calls-for-action-as-gas-supplies-shortage-looms.html



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