Lindsay Partridge, who has been at the helm of Australia’s biggest brick-making company for 24 years, said detached housing had moved out of reach of many first home buyers after 13 rate rises, a 30 per cent jump in building material costs and labour, and“It’s the best part of 30 per cent since things opened up again,” he said of the overall inflation in building materials prices since mid-2022.
Building activity across the industry in Australia for detached housing tumbled by 18 per cent in the December half compared with a year ago, after theThe slowdown in demand meant earnings before interest and tax in the Australian building products division slipped by 11 per cent to $23 million in the six months ended January 31. Revenues from that business were down 11 per cent to $323 million.
Brickworks said the contribution from its holding in Soul Patts was $76 million in the six months to January 31, down from $101 million a year ago.announced on Thursday a 49 per cent drop in net profit after tax to $241 million, but lifted its interim dividend to 40¢ per share, from 36¢ a year ago. The investment portfolio across 200 holdings produced an 8.3 per cent total return for the half.