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James Hardie records nine-month sales and earnings growth in 2021 financial year Written by Global Cement staff
11 February 2021
Australia: James Hardie recorded net sales of US$2.10bn in the first nine months of its 2021 financial year, up by 9% year-on-year from US$1.93bn in the first nine months of its 2020 financial year. Adjusted earnings before interest and taxation rose by 25% to US$456m from US$366m. Sales and earnings increased in all three regions in which the company operates. In Australia and New Zealand, it reduced costs by consolidating fibre cement production at its two Australian plants.
Chief executive officer Jack Truong said, “I am pleased with these record results, underpinned by excellent execution of our business transformation that we began in 2019, combined with increasing demand for our premium-quality James Hardie brand products and solutions. The transformation we undertook to unlock capacity and
James Hardie Industries Announces Record Third Quarter Fiscal Year 2021 Results
Delivered Record Net Sales, Adjusted EBIT and Adjusted NOPAT for the Third Quarter Fiscal Year 2021
Global Net Sales +20% to US$738.6 Million for the Third Quarter Fiscal Year 2021
Adjusted NOPAT +59% to US$123.3 Million for the Third Quarter Fiscal Year 2021
Operating Cash Flow +72% to US$678.4 Million for the First Nine Months of Fiscal Year 2021
Declares Special Dividend of US$0.70 per share
Raises Fiscal Year 2021 Adjusted NOPAT Guidance Range to US$440 Million to US$450 Million
SYDNEY (BUSINESS WIRE)
James Hardie Industries plc (ASX:JHX; NYSE:JHX), the
world’s #1 producer and marketer of high-performance fiber cement and fiber gypsum building solutions announced its third quarter and first nine months of fiscal year 2021 results, for the periods ending 31 December 2020.
CSR and Boral may have extra zip in building recovery
Share
While investors in the large ASX-listed building products companies generally had a fruitful last few months of 2020, the gains are likely to be harder to come by this year.
Share prices were on a solid upward trajectory late last year as a solid economic recovery occurred faster than most experts had predicted. The pull-forward of demand created by the federal government’s HomeBuilder scheme, which has been extended to March 31, has been a big driver.
Boral and CSR are the top picks at Citi among the ASX building stocks.
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