James Hardie profit lifted in 2Q17 and 1H17

Company News

by David Chau

James Hardie Industries plc (ASX:JHX) has announced its second quarter results for this fiscal year, as well as its half year results ending 30 September 2016.

The company says net operating profit was US$75.7 million for the quarter, and US$141.4 million for the half year. James Hardie also says these figures represent increases of 14% and 10% respectively, compared to their previous corresponding periods.

The company also says it repurchased and cancelled around 6.1 million shares during the quarter, at an aggregate cost of $99.8 million.

As for its outlook this financial year, James Hardie is expecting steady growth in the US housing market, assuming new construction starts of between 1.2 and 1.3 million.

James Hardie posted a net profit of $319.2 million at 30 June 2016. 

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.