Brickworks expects to report record property earnings in the first half of the 2022 financial year, with property earnings before interest and tax, in the absence of any further transactions, in the range of $290 million to $310 million.
This compares to property EBIT of $253 million in financial year 2021.
“We have seen strong demand and sustained growth in the value of our property trust over a number of years,” said Brickworks’ managing director, Lindsay Partridge.
“The COVID-19 pandemic has only fuelled this growth, by accelerating industry trends towards online shopping and increasing the importance of well-located distribution hubs and sophisticated supply chain solutions.”
Brickworks also announced that it has executed an unconditional contract for the purchase of 121 hectares of land at Bringelly, in south-western Sydney.
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