James Hardie Industries: net sales rise 10%

Company News

by Jessica Amir

James Hardie Industries PLC (ASX:JHX) has announced its Group Adjusted net operating profit for the quarter ending 31 December 2016 fell 6% to US$52.6 million compared to the prior corresponding period (PCP).

At the same time, it also reported its Group Adjusted net operating profit for the nine months to 31 December 2016 spiked by a 5%, also compared to the PCP.

The building materials company’s group net sales jumped 10% for both Q3 and the 9 months to the December end (compared to the PCPs).

James Hardie Industries says its North American Fiber Cement business saw an increase in net sales on the back of higher volumes.

However it was offset by manufacturing inefficicies and start-up costs associated with lifting their network capacity.

James Hardie Industries PLC (ASX: JHX) reported a profit of $188.86 million at 30 September 2016.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.