Covid and now US riots hit Brickworks

Diversified building products and investment group Brickworks has suffered a sales downturn in Australia and the United States during the Covid-19 pandemic, the company has confirmed.

Now the US riots have emerged as another factor threatening business stability, with riots taking place close to a new brick retail design centre under construction in Philadelphia.

CEO Lindsay Partridge told investors that the company has suffered a sales downturn of 10 per cent in Australia in the four months to May, but remained profitable.

In May the company received approval for a new $125 million face brick plant to be built at Horsley Park in NSW.

Meanwhile the US building products business, concentrated in the north-east of the country, reported sales activity down 30 per cent in April and May over the previous corresponding period.

Partridge said: “Whilst the overall contribution from building products North America is positive for the financial year to date, the Coronavirus impact has resulted in negative earnings in recent months.

“The ongoing riots across the US have now emerged as another potential disruption.”

The Sydney company has suffered no property damage so far.

Picture: Brickworks

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