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James Hardie Industries (ASX:JHX) is on track to meet analyst expectations for full-year profit after posting a solid lift in first quarter revenue.
In three months to June 30, James Hardie posted net profit of $US142.2 million, a significant lift on the $68.5 million recorded in the previous corresponding period.
Revenue in the same period was $372.2 million, a 10 per cent increase on the $339.7 million recorded in the same quarter last year.
The company says the first quarter results reflected improved sales volumes and average net sales prices when compared to the previous corresponding quarter for its USA, Europe and Asia Pacific Fibre Cement segments.
The group says it expects to meet analysts’ forecasts for net operating profit excluding asbestos for the year ending March 31 of between US$165 million and US$194 million.
James Hardie generated a net profit of $43.6 million in fiscal 2013.
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