News: JHX James Hardie Industries says qtrly net profit attributable to shareholders grew 45 pct

Aug 12 (Reuters) - James Hardie Industries PLC:

• Qtrly group net sales of US$477.7 million, an increase of 12% compared to pcp
• "Expects to see steady growth in US housing market in fiscal year 2017"
• Qtrly net profit attributable to shareholders US$87.1 million, up 45%
• Expect North America fiber cement segment EBIT margin to be at higher end of stated target range of 20% to 25% for fiscal year 2017
• "Management expects full year adjusted net operating profit to be between US$260 million and US$290 million"
• "Expect net volume growth for the North America fiber cement segment to likely outpace overall market growth by mid-single digits"
• "Notes range of analysts' forecasts for net operating profit excluding asbestos for year ending 31 March 2017 is US$264-US$302 million"
• Expect North America fiber cement segment EBIT margin to be at the higher end of its stated target range of 20% to 25% for fiscal year 2017
• "Unable to forecast comparable US GAAP financial measure due to uncertainty regarding impact of actuarial estimates on asbestos-related assets"
• "Net sales from the australian business are expected to trend in line with the average growth of the domestic repair"
• Cautions that although US housing activity been improving, market conditions "remain somewhat uncertain and some input costs remain volatile"