Brickworks Fiscal 2016: East Beats West; Fair Value Estimate Lifted 5% to AUD 13.7 per Share
No-moat Brickworks reported in-line fiscal 2016 earnings, with AUD 147 million underlying net profit after tax and AUD 0.99 underlying EPS, up 22% on fiscal 2015. Statutory NPAT of AUD 78 million included AUD 74 million in pretax significant items, including a AUD 47 million noncash impairment to Austral Bricks Western Australia and AUD 18 million in pretax restructuring costs in Austral Bricks Western Australia and Auswest Timbers. The firm declared a final dividend of AUD 0.32, which is fully ...Brickworks manufactures a range of building products throughout Australia, engages in development and investment activities, and participates in investments as an equity holder. Co. has business three segments: building products, which manufactures vitrified clay, concrete and timber products used in the building industry with product lines that include bricks, blocks, pavers, roof tiles, floor tiles, and timber products used in the building industry; property, which considers further opportunities to better utilize land owned by Co.; and investment, which holds investments in the Australian share market, and includes investment in Washington H. Soul Pattinson and Co. Ltd.
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