February 11, 2020 / 6:36 AM / 9 days ago

James Hardie posts 17% jump in quarterly profit

(Reuters) - James Hardie Industries (JHX.AX), the world’s biggest fibre cement maker, posted on Wednesday a 17% jump in third-quarter profit, underpinned by a strong performance in its North American housing business.

The Ireland-headquartered firm posted an adjusted net operating profit for the quarter ended Dec. 31 of $77.4 million, compared with $65.9 million (£51.02 million) a year ago.

The company expects full year adjusted net operating profit to be between $350 million and $370 million, raising the lower end of the forecast from $340 million.

Reporting by Niyati Shetty and Shruti Sonal in Bengaluru; Editing by Muralikumar Anantharaman

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