{"id":42947,"date":"2021-09-23T09:44:48","date_gmt":"2021-09-23T00:14:48","guid":{"rendered":"https:\/\/www.aumanufacturing.com.au\/?p=42947"},"modified":"2021-09-23T09:46:41","modified_gmt":"2021-09-23T00:16:41","slug":"brickworks-record-year-driven-by-diversification","status":"publish","type":"post","link":"https:\/\/www.aumanufacturing.com.au\/brickworks-record-year-driven-by-diversification","title":{"rendered":"Brickworks record year driven by diversification"},"content":{"rendered":"<p>Building products, property and investment group Brickworks achieved a record net profit after tax in FY21 driven by a 38 per cent rise in its investment in WHSP, property development and stronger building products performance in Australia.<\/p>\n<p>Underlying NPAT from continuing operations was up 95 per cent to $285 million and statutory profit down 20 per cent.<\/p>\n<p>Revenues were down six per cent in the year to $890 million though a focus on cost control saw underlying EBIT up 86 per cent to $383 million.<\/p><div class=\"wooco-content\" id=\"wooco-1175625652\"><div style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"wooco-841431077\"><a data-no-instant=\"1\" href=\"https:\/\/page.spee3d.com\/download-spee3d-heavy-industry-whitepaper?utm_campaign=Au%20Manufacturing%20Lead%20Gen%202024&#038;utm_source=AuManufacturing_campaign_1\" class=\"adv-link\" aria-label=\"SPEE3D_BannerAds-468&#215;60\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.aumanufacturing.com.au\/wp-content\/uploads\/2024\/02\/SPEE3D_BannerAds-468x60-1.png\" alt=\"\"  srcset=\"https:\/\/www.aumanufacturing.com.au\/wp-content\/uploads\/2024\/02\/SPEE3D_BannerAds-468x60-1.png 468w, https:\/\/www.aumanufacturing.com.au\/wp-content\/uploads\/2024\/02\/SPEE3D_BannerAds-468x60-1-300x38.png 300w\" sizes=\"(max-width: 468px) 100vw, 468px\" width=\"468\" height=\"60\"  style=\"display: inline-block; max-width: 100%; height: auto;\" \/><\/a><\/div><\/div>\n<p>The key driver in Brickworks&#8217; stellar year was a $1.2 billion rise in the company&#8217;s 39.4 per cent shareholding in investment group WHSP to $3.4 billion.<\/p>\n<p>Total assets now stand at $4.8 billion, a rise of 149 per cent in 10 years.<\/p>\n<p>Property trust assets also gained in value by $149 million.<\/p><div class=\"wooco-in-content-after-par-6\" id=\"wooco-1967760117\"><div style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"wooco-1796269419\"><a data-no-instant=\"1\" href=\"https:\/\/www.sew-eurodrive.com.au\/home.html\" class=\"adv-link\" aria-label=\"Auman_Second ad within content_Quality, Service+Delivery\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.aumanufacturing.com.au\/wp-content\/uploads\/2024\/03\/Auman_Second-ad-within-content_Quality-ServiceDelivery-e1713733941954.jpg\" alt=\"\"  width=\"468\" height=\"60\"  style=\"display: inline-block; max-width: 100%; height: auto;\" \/><\/a><\/div><\/div>\n<p>The company&#8217;s building products businesses in Australia achieved an EBIT of $44 million, up 36 per cent due to a broad-based operating costs reduction.<\/p>\n<p>Brickworks managing director Lindsay Partridge said: &#8220;Early in the financial year sales were subdued, due primarily to disruptions and uncertainty at the start of the pandemic.<\/p>\n<p>&#8220;However, as the year progressed demand improved in response to government stimulus measures<\/p>\n<p>During the year the company reached the commissioning stage of its Oakdale East masonry plant in Sydney, and began work on a brick facility at Horsley Park, though these were hit by Covid-19 disruptions.<\/p>\n<p>In the United States EBIT was down six per cent to $9 million, on revenue marginally lower at $210 million.<\/p>\n<p>Partridge said: &#8220;Significant rationalisation of manufacturing plants and retail outlets (in the US) has been accelerated through the pandemic.<\/p>\n<p>&#8220;The number of operating brick plants has been reduced from 16 to 10.&#8221;<\/p>\n<p>Picture: Brickworks<\/p>\n<p><b>Subscribe to our free\u00a0<em>@AuManufacturing<\/em>\u00a0newsletter\u00a0<\/b><a href=\"https:\/\/www.aumanufacturing.com.au\/subscribe\"><b>here<\/b><\/a><b>.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Building products, property and investment group Brickworks achieved a record net profit after tax in FY21 driven by a 38 per cent rise in its investment in WHSP, property development and stronger building products performance in Australia. Underlying NPAT from continuing operations was up 95 per cent to $285 million and statutory profit down 20&hellip;<\/p>\n","protected":false},"author":4,"featured_media":42949,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[63],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Brickworks record year driven by diversification - Australian Manufacturing Forum<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.aumanufacturing.com.au\/brickworks-record-year-driven-by-diversification\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brickworks record year driven by diversification - Australian Manufacturing Forum\" \/>\n<meta property=\"og:description\" content=\"Building products, property and investment group Brickworks achieved a record net profit after tax in FY21 driven by a 38 per cent rise in its investment in WHSP, property development and stronger building products performance in Australia. 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