Transferring Coverage: Slight Increase in Brickworks' FVE to AUD 14.30 on Higher Associate Income.
December’s Australian housing approval numbers retreated after a surprisingly strong November, which is consistent with our outlook. At the same time, volumes for James Hardie’s fibre cement business in Australia continued to show strong growth, up 14% on the previous corresponding period, or pcp. We think this reflects continued high levels of construction activity, but also increased category and market share for Hardie’s fibre cement.We are transferring coverage of Brickworks. We retain our ...
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