Macquarie rates Brickworks (ASX:BKW) outperform saying the cycle continues to strengthen

Macquarie rates Brickworks (ASX:BKW) outperform saying the cycle continues to strengthen. We attended the BKW July 2014 site visit and management briefings. This included visits to a number of its NSW facilities and a trading update. BKW has stated that it is experiencing a broad-based recovery in building materials demand, with Austral Bricks volumes almost 20% higher than prior corresponding period. Higher than anticipated revaluation profits on JV trust developments will deliver a significantly improved year-on-year result from property.

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