What matters in Brickworks (BKW) results
BKW +3.13%: the building products and investment company reported 1H numbers today which were stronger than expected while outlook comments appeared better than feared. Revenue was up 13% yoy, while Underlying profit added 24% to $410m. The Building Products division saw revenue growth in both Australia & Northern America despite signs the construction market has started to taper off with interest rates. The company talked to a strong pipeline of work to support the 2H. The property & investments book is what ultimately drove the result with further positive revaluations, strong performance from WHSP (SOL) which Brickworks owns 26% of (and WHSP owns 40% of BKW strangely enough) and a new property coming online. They continue to see strong demand in key industrial property markets and expect rental increases to further boost income from here.
