News: Brickworks records H1 profit jump

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Brickworks Ltd (ASX:BKW) says its interim net profit rose 32.8 per cent to $117 million in the first half of its 2011 financial year.

The brick and tile manufacturer says the result reflects the stability of earnings from its business model, despite delays to construction schedules because of weather conditions across Australia.

In the six months to 31 January 2011 Brickworks recorded revenue of $328 million, up 2.7 per cent from a year earlier.

In the same period earnings from the company’s building products division rose 2.8 per cent to $22.4 million. 

Managing director Lindsay Partridge has also stated that he believes the federal government’s proposed carbon tax “has the potential to cause long-term damage to the Australian housing and building products industries” and claims, “the sooner the current plan is abandoned the better”.

Brickworks has declared a fully franked interim dividend of 13.5 cents per share.  



In the 2010 financial year Brickworks posted a net profit of $139 million.