Brickworks’ net profit up

Building materials manufacturer Brickworks announced its half-year results yesterday.

The company’s first-half result featured a normalised net profit increase of 13.1 per cent to $56.08 million, with increased electricity and gas prices and the carbon tax impacting this figure.

AAP reports that managing director Lindsay Partridge said anecdotal evidence from South Australia, West Australia and New South Wales suggested that residential housing activity was on the rise.

"But until that is reflected in the statistics, until we see the orders, we won't know the extent of that upturn," he told investors.

Partridge also stated that gas bills had doubled in the last five years.