Australia's Brickworks climbs on higher property earnings outlook

Brickworks

22/07/2022 02:22

** Shares of brick manufacturer Brickworks Ltd  BKW.AX  rise
as much as 4.3% to A$21.00, mark their biggest intraday gain
since March 25
    ** Co expects to report FY22 property EBIT likely in excess
of A$620 mln ($428.98 mln), higher than property EBIT of A$253
mln reported in FY21  urn:newsml:reuters.com:*:nASXbwSCSr
    ** Says EBIT from Building Products operations in both
Australia and North America are expected to be higher in FY22
compared to prior year
    ** Co also announces launch of Brickworks Manufacturing
Trust valued at A$416 mln, a new joint venture manufacturing
property trust with Goodman Group 
    ** Shares hit their highest since May 31
    ** As of last close, stock down 16.7% this year


($1 = 1.4453 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))