Building products maker James Hardie posts jump in first-quarter profit
JHX•First-quarter profit rises on North American fiber cement growth
Aug. 7 (Reuters) - James Hardie JHX.AX reported a 54% rise in its first-quarter profit on Friday, helped by a return to growth in its key North American fiber cement business as elevated distributor inventories from a year earlier normalized.
The company reported adjusted net income of $209.3 million for the three months ended June 30, compared with $136.1 million a year ago. That beat LSEG-compiled analysts' average estimate of $178.3 million.
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