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Australia’s James Hardie full-year profit up 13 percent

May 18 James Hardie Industries Plc, the world’s top fiber cement building materials maker, said its full-year net profit rose 13 percent on robust performance in North America in the fourth quarter.

Net profit for the year grew to $276.5 million, compared with $244.4 million a year ago.

That beat the $231.96 million mean estimate of seven analysts polled by Thomson Reuters I/B/E/S.

The Australian company had slashed its full-year adjusted net profit forecast to a range of $245 million to $255 million in its third-quarter results announcement in February, warning of uncertainty in the U.S. housing market.

Adjusted full-year net profit came in at $248.6 million, compared with $242.9 million last year.

James Hardie makes four-fifths of its sales in North America. (Reporting By Rushil Dutta; Editing by Bill Trott)

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