James Hardie’s (ASX:JHX) net profit up 9%; here’s how shares may react

Summary

  • James Hardie Industries announced a net profit rise of 9% for the full year ended 31 March 2021.

  • The Dublin-based company reported a full year net profit attributable of US$262.8 million for the given period.

  • The adjusted net income of the building materials supplier rose 30% to US$458 million 

James Hardie Industries (ASX:JHX) on Monday announced a net profit rise of 9% for the full year ended 31 March 2021 as robust homebuilding markets in the United States and Australia drove demand for the company's fibre cement products.

The Dublin-based company reported a full year net profit attributable of US$262.8 million for the given period. The net sales rose 12% to US$2.9 billion.

The adjusted net income of the building materials supplier rose 30% to US$458 million and the firm’s adjusted EBIT margin was 21.6%, up 2.9 percentage points.

Source: ©Webking   | Megapixl.com

What company says

With this latest profit, the company has delivered eight straight quarters of consistent profitable growth, said James Hardie CEO, Jack Truong, while commenting on the financial results.

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James Hardie also informed that it was planning to restart ordinary dividends in financial year 2022.

READ MORE: Three ASX shares that are trading at a bargain

Source: © Sadeq68 | Megapixl.com

Stock performance

On Monday, 18 May 2021, the stock of James Hardies closed at AU$42.10, up 0.41%, as against the previous closing on Friday, 14 May 2021. In Australia’s industrial sector, James Hardie competes with Qantam (ASX:QAN), Transurban (ASX:TCL), Pact Group Holdings Ltd (ASX:PGH), among others. Meanwhile, the industrial sector was expected to do well going ahead as both global and domestic economy opened amid the ongoing coronavirus pandemic.

READ MORE: Which are the ten best-suitable countries for renewable energy investment?

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