News: JHX James Hardie Industries says FY net profit $244.4 mln

May 19 (Reuters) - James Hardie Industries PLC JHX.F :

• FY net profit $244.4 million versus $291.3 million
• Expects to see moderate growth in the US housing market in fiscal year 2017
• FY net sales from ordinary activities $1.73 billion versus $1.66 billion
• Says an FY 2016 second half ordinary dividend of US29.0 cents per security is payable to CUFS holders on 5 August 2016
• Says no dividend reinvestment plan is in operation for this FY 2016 second half dividend
• No dividend reinvestment plan is in operation for this FY 2016 second half dividend
• Expects to see moderate growth in the US housing market in fiscal year 2017"
• Announced a new share buyback program to acquire up to US$100.0 million of its issued capital in the twelve months through May 2017.
• Total detached starts expected to range from 100,000 to 110,000 in calendar 2016"
• Expects North America, Europe fiber cement segment EBIT to grow for FY 17
• Says "the New Zealand business is expected to deliver improved results"
• Expects EBIT margins to remain at high end of target range of 20% to 25% for FY 2017