Tag: JHX

Shares in James Hardie ended up 3.7% at $18.50 yesterday after the Ireland-based construction materials supplier lifted its full-year profit 57% to $US228.8 million ($A331 million).

Shares in James Hardie jumped more than 7% yesterday after the company revealed the tiniest of upgrades to its full-year earnings and despite a 10% drop in December quarter earnings.

The growing weakness in the US homebuilding market, driven in part by rising mortgage costs as the Fed lifts interest rates, has seen James Hardie haul back on its guidance for the full year triggering a big slump in the share price yesterday.

James Hardie’s net profit for the year to March 31 has fallen 47% to $US146.1 million ($A192.6 million), primarily driven by asbestos adjustments, acquisition costs and debt.

On Wednesday investors didn’t like the fact that James Hardie was spending more than $A700 million expanding in Europe and Germany in particular so they sold down the shares – which closed down 1.5% after being down twice that in early trading.

James Hardie reports its second quarter and first half figures later this morning and it set the share price running ahead of that announcement yesterday of a near three quarters of a billion acquisition in Europe.

Building products group, James Hardie produced a sort of mixed full year result yesterday and the shares got hammered in the sell off by investors nervy at the smallest bit of worrying news.

Shares in James Hardie (JHX) jumped solidly yesterday despite the company admitting to constraint problems that would put a lid on expected earnings for 2016-17.

James Hardie is looking for moderate growth in the key US housing market this financial year after the building products group saw its adjusted operating profit rise 10% to $US242.9 million ($335 million).

Shares in building products group James Hardie (JHX) fell sharply yesterday after the company downgraded its full year profit guidance after a flat second quarter, blaming uncertainty over the state of the US housing market and asbestos claim liabilities.

Tax exile, James Hardie (JHX) has benefitted from stronger demand for home building materials in the US, Europe and Australia, as well as the stronger US dollar to post a sharp rise in annual profit which in turn produced a higher annual dividend, special dividend and buyback.

James Hardie (JHX) shares have climbed after the building products maker reported a strong jump in second quarter earnings.

Shareholders in building products company James Hardie (JHX) have shared in the company’s enjoyment of the better conditions in its major housing markets around the world.

James Hardie (JHX) shares touched a record high yesterday after it revealed a sharp jump in interim profit and promised a higher dividend to shareholders.

The quarterly and annual result from building products group James Hardie was one of those good bits/bad bits results. Earnings were solid, dividend is unchanged and a share buyback has been renewed.

The strong rise Friday and Monday in James Hardie Industries shares was explained yesterday with a statement that outlined significant capital management changes, including a buyback and a return to dividends, and a cut in the contribution to the Australian asbestos compensation fund next year.

As expected James Hardie Industries will appeal a Federal Court decision that upheld a ruling that it owes the tax man $US318 million ($339 million).

With October new home starts in the US down 10.6%, thanks to big falls in single and multi-home starts, it was a confident James Hardie management yesterday who provided hints that the company’s outlook may be on the improve, after reporting a loss for the six months to September.

A reminder yesterday of the damage the US housing slowdown and subprime mortgage mess continues to do Australian companies operating in America.

Building products group, James Hardie Industries, has become a high profile Australian corporate casualty of the US housing recession.

James Hardie Industries (JHX) joined a string of high-profile companies afflicted by the US housing crisis, after it said it plans to suspend production at its US plant in response to the current US housing market conditions.