FRom the WSJ this morning....BKWBrickworks to Temporarily Close...

FRom the WSJ this morning....BKW

Brickworks to Temporarily Close Plants as FY Profit Drops 88%

SYDNEY--Building products manufacturer Brickworks will temporarily close plants in North America and Australia during its current fiscal year in response to subdued sector activity.The Australia-listed company, which reported a 88% fall in annual profit, on Thursday said it was seeing subdued building activity across many of its key markets."We are planning temporary plant closures throughout FY25 to undertake maintenance and control inventory. Looking beyond the short-term market weakness, we are well placed to deliver strong returns when market conditions improve," Chief Executive Mark Ellenor said.Brickworks reported a continuing operations net profit for the 12 months through July of 61.2 million Australian dollars (US$41.8 million), excluding one-off items including impairments. That compares with a A$508.2 million profit a year earlier.The average analyst forecast was for an annual profit of A$23 million from revenue of A$1.10 billion, according to data compiled by FactSet.Brickworks reported a statutory net loss of A$118.9 million, driven by previously announced impairments against its building-products units and devaluation of its property portfolio.Revenue fell 7.8% to A$1.09 billion. The company raised its dividend to A$0.43 from A$0.42 a year earlier.