James Hardie announces 47% drop in net profit

Company News

by Anna Napoli

James Hardie (ASX:JHX) has announced a 47 per cent fall in net profit to $146 million for the year ended March 2018.

Going the other way, net sales lifted 7 per cent to just over $2.1 billion compared with 1.9 billion for the same period last year.

A second half financial year dividend of US10 cents is payable on the 3rd of August 2018.

The company says the fall in profit is due to by asbestos adjustments, acquisition costs and debt.

Shares in James Hardie (ASX:JHX) closed 0.13 per cent lower. to $22.45

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.