Australia: James Hardie Industries increased its net profit by 58% year-on-year to US$90.6m in the three months to 30 June 2018. Adjusted earnings before interest and tax (EBIT) were up by 21% to US$107.1m. Net sales were up by 28% to US$651m.
CEO Louis Gries said, "Our North America Fibre Cement Segment delivered solid top line growth of 10% for the quarter. Volumes increased by 5%, with our interiors business having only marginal growth and our exteriors business returning to growth above our addressable market. While we have returned to growth above our market index in our exteriors business, increased traction will be required to hit our 2019 financial year targeted range.”
“Within our Asia Pacific Fibre Cement Segment, net sales increased 15% for the quarter, primarily due to the strong growth in our Australian business,” added Gries. “Furthermore, EBIT increased 7% for the quarter, driven by the strong performance of our Australian business, partially offset by the performance of our New Zealand business.”
