Snippets Corner: 09 February 2009 – BKW, AVJ
February 8, 2010
Brickworks Limited (BKW) today said it had agreed to purchase Brick and Block, a New South Wales-based producer of concrete masonry, for $13.5 million after the latter went into administration in November last year. The acquisition is expected to be earnings per share positive as soon as the deal is finalised this month. Managing director of Brickworks, Lindsay Partridge saw market share would now increase to more than 20% with businesses in Queensland, NSW and Victoria.
AVJennings Limited (AVJ) swung back to a $3.2 million post-tax profit following last year’s $9.7 million loss for the six months to 31 December 2009. The result came from a lower tax rate, with revenues steady at around $240 million. Housing developments were down to $131 million, from $153 million, while profit rose from $7.5 million to $12.2 million. The company also reported debt levels of around a third, at $70 million, from levels seen a year ago.
AVJennings Limited (AVJ) swung back to a $3.2 million post-tax profit following last year’s $9.7 million loss for the six months to 31 December 2009. The result came from a lower tax rate, with revenues steady at around $240 million. Housing developments were down to $131 million, from $153 million, while profit rose from $7.5 million to $12.2 million. The company also reported debt levels of around a third, at $70 million, from levels seen a year ago.
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