James Hardie Industries (ASX:JHX) see profit rise on US housing boost

  • Home
  • Company News
  • James Hardie Industries (ASX:JHX) see profit rise on US housing boost
12Feb

James Hardie Industries (ASX:JHX) see profit rise on US housing boost

 

James Hardie Industries (ASX:JHX) yesterday reported adjusted net operating profit for the quarter ending 31 December 2019 rose to $77.4 million, an increase of 17 per cent for both compared to prior corresponding periods.

This rise was mainly due to an improvement in the US housing market with North America Fiber Cement Segment volume increasing 11 per cent for the quarter compared to the prior corresponding period.

In the US cheper mortgage rates helped the housing market after the Federal Reserve cut rates three times last year.

The US division makes 70 per cent of the company’s revenue.

Shares in James Hardie Industries (ASX:JHX) closed 2.29 per cent higher at $32.14 yesterday.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

31Jan

Frontier Digital Ventures (ASX:FDV) reports record preliminary results

31 Jan 2020 - Frontier Digital Ventures (ASX:FDV) reports record revenue following the release of its preliminary results for the 12 months ended 31 December 2019.

Read More
16Dec

Stocks of the Hour: CSL, Woodside Petroleum, Sims

16 Dec 2021 - A snapshot of the stocks on the move this morning featuring CSL (ASX:CSL), Woodside Petroleum (ASX:WPL), and Sims (ASX:SGM).

Read More
20Dec

Stocks of the Hour: Avecho Biotechnology, LBT Innovations, Meteoric Resources

20 Dec 2022 - A snapshot of the stocks on the move featuring Avecho Biotechnology (ASX:AVE), LBT Innovations (ASX:LBT) and Meteoric Resources (ASX:MEI).

Read More
04May

Transurban (ASX:TCL) reports 44% traffic decline

04 May 2020 - Transurban (ASX:TCL) has confirmed COVID-19 traffic impacts were observable from early March.

Read More
21Feb

Lovisa (ASX:LOV) see northern hemisphere markets decline due to Covid

19 Feb 2021 - Jewellery and accessories company Lovisa (ASX:LOV) saw profit for the half down 22.6 per cent to $21.5 million compared to the last half.

Read More
27Jun

Stocks of the Hour: INOVIQ, Forrestania, Lincoln, Tamboran

27 Jun 2023 - A snapshot of the stocks on the move featuring INOVIQ, Forrestania Resources, Lincoln Minerals and Tamboran Resources.

Read More
27Apr

Monash IVF (ASX:MVF) to raise $80 million

27 Apr 2020 - Monash IVF (ASX:MVF) will seek to raise $80 million in order to cover its debts and pursue growth opportunities.

Read More
03Mar

BWX (ASX:BWX) issues first tranche of shares to Chemist Warehouse

03 Mar 2021 - BWX (ASX:BWX) has issued the first tranche of shares to Chemist Warehouse Group as part of its five-year equity-linked strategic partnership.

Read More
28Feb

Stocks of the Hour: Nyrada Inc, Bastion Minerals, Global Oil & Gas

28 Feb 2024 - A snapshot of the stocks on the move, featuring Nyrada Inc (ASX:NYR), Bastion Minerals (ASX:BMO) and Global Oil & Gas Ltd (ASX:GLV).

Read More
02Sep

Moelis announces selective share buyback

03 Sep 2019 - Financial advisory business Moelis Australia (ASX:MOE) has today announced its entered into a binding buyback agreement with Moelis & Company (NYSE:MC) to purchase 8 million Moelis shares from M&C via a selective buyback at a price of $3.40 per share.

Read More