Brampton Brick Limited (Brampton, Ontario, Canada) has reported consolidated net income for the year ended 31 December 2006 of CAN$13.971 million. Net sales for the year decreased by $6.708 million, or 6.0% in aggregate, as a result of lower shipments in both the clay brick and concrete products business segments.
Brick shipments were affected primarily by a slowdown in residential construction activity in the company’s primary market areas. Sales volumes in the concrete products business segment were negatively impacted by a slowdown in the Michigan market. Net sales in the waste processing business segment increased by $3.355 million, primarily as a result of the contribution from the Nova Scotia operations which commenced in December 2005.
As a consequence of the decline in net sales, operating income before interest and other items decreased by $2.026 million from $21.811 million in 2005 to $19.785 million in 2006.
Brampton Brick is Canada’s second largest manufacturer of clay brick and manufactures concrete paving stones, retaining walls and enviro products under the Oaks Concrete Products trade name. Products are used for residential construction and for industrial, commercial and institutional building projects. Da Vinci Stone Craft Ltd, a 75% owned subsidiary, manufactures fireplace surrounds and accessory products. Medical Waste Management Inc, a 65% owned subsidiary, operates facilities for the destruction of biomedical and pharmaceutical waste in Ontario, including the only commercially operated medical waste incinerator in Ontario, and Nova Scotia.
Posted March 2007