Views Article – Sharenet Wealth

News, North America

James Hardie first-quarter profit dips 1%

Aug 11 (Reuters) – Australia’s James Hardie Industries on Tuesday said first-quarter profit fell 1%, hit by low sales volumes in Europe and the closure of several manufacturing plants due to the COVID-19 pandemic.

The world’s biggest fibre cement maker said adjusted net operating profit for the quarter ended June 30 was $89.3 million, compared with $90.2 million a year ago.

The Dublin-based company, which had previously withheld its annual forecast citing coronavirus-led uncertainty, said it expects adjusted net operating profit between $330 million and $390 million in fiscal 2021. (Reporting by A K Pranav and Arundhati Dutta in Bengaluru; Editing by Devika Syamnath)


© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.