James Hardie (ASX:JHX) lifts income guidance

Company News

by Lauren Evans

Building material giant James Hardie (ASX:JHX) has raised its income guidance by 6 per cent to up to $890 million (US$630 million), from their previous guidance after a strong third quarter in which sales increased across the board.

The company said its third quarter global net sales increased more than 22 per cent due to continued residential and market growth. 

The company's sales in the North America fibre cement segment increased 24 per cent, while its Europe building products segment sales rose 14 per cent and its Asia Pacific fibre cement segment sales increased by 20 per cent. 

“I am pleased to report the James Hardie team has continued to execute well on our stated global strategy,” said James Hardie interim chief executive Harold Wiens.

“The team’s success in delivering high-value products, which underpins price/mix, is the result of enabling our customers to make more money by selling more James Hardie products and, marketing directly to the homeowners to create demand of our high value products through our customers.”

Shares in James Hardie (ASX:JHX) are trading 1.7 per cent higher at $48.46. 

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