BrickWorks bucking market conditions

The Sydney morning herald writes that Brickworks (ASX:BKI) is confident that it will perform during what is perceived to be an oncoming downturn in its markets. The company increased its profit by 16.6 per cent to $A101.9 million in 2005-06, in spite of the difficult market conditions. The company believes that one of the company's strengths is that it has other income streams. It is generating income from the sale of property and the generation of income from its property portfolio. It has also made acquisitions to diversify its products and its geographic spread and it seems that this is paying dividends for the company.

Persinally the company is still overpriced at the current level. It needs to drop a fair bit before I would feel it is back at a reasonable price. I do like the company but it just doesn't fall in a good price range at the moment.

Good Luck Investing