Brickworks: Launches new JV and sees record earnings

Brickworks Launches new JV and sees record earnings

• Brick manufacture Brickworks (BKW) launches the Brick works Manufacturing Trust, a new joint venture with commercial property company Goodman Group
• The trust will hold an initial portfolio of 15 manufacturing plants with an asset value of $416 million
• Additionally, the platform is expecting to report record property earnings in FY22, with property earnings before interest and taxes (EBIT) in excess of $620 million
• This is a big jump from FY21’s property EBIT of $253 million
• BKW shares are up 2.09 per cent and are trading at $20.55 each at 1:51 pm AEST