Australia's Brickworks hits nine-month low on impairment charge

Brickworks

12/09/2024 04:49

(Updates)
    ** Shares of Brickworks  BKW.AX  fall as much as 3.2% to
A$25.220, their lowest since Dec 13, 2023
    ** Stock posts its biggest intraday percentage decline since
Aug 13
    ** As at 0342 GMT, shares down 2.6% at A$25.38
    ** Brick maker flags total non-cash impairment charge of
A$123.5 mln ($82.49 mln) for FY24
    ** BKW says impairment related to its Austral Masonry and
Brickworks North America units
    ** Analysts at Citi say the charge will likely not impact
underlying earnings for co, which is the key performance measure
for investors, as it is non-cash
    ** Stock down 9.2% YTD, as at 0342 GMT




($1 = 1.4972 Australian dollars)

 (Reporting by Aaditya Govind Rao and Echha Jain in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com))