AUSTRALIA's largest brick manufacturer BRICKWORKS has forecast a positive outlook for 2008.
Brickworks’ managing director Lindsay Partridge said first quarter results to the end of October were slightly improved despite tough market conditions.
Building products experienced stronger trading conditions in
Partridge said land and development was boosted by the sale of the Eastwood site to AVJennings which lifted first quarter earnings above last years.
But Partridge said Brickworks outlook for 2008 is positive with an improved investment performance and solid land and development profits likely to offset any decline in building products caused by recent and further likely interest rate rises.
Brickworks final year profit for 2006-07 was $107.5 million and the final dividend of 26 cents per share fully franked.
Australian Property Journal
