James Hardie’s buyout target Azek produces solid profits
Azek, the outdoor decking and railings group in the United States which James Hardie intends buying in a $14 billion deal, has announced solid March quarter sales and profits overnight and reaffirmed its full-year profit outlook.Azek chief executive Jesse Singh said sales in its second quarter, the three months ended March 31, were up 8 per cent to $US452.2 million ($694 million) and net income was up 9 per cent $US54.3 million.
Singh said while there was uncertainty in the US economy, Azek was outperforming the broader market.
“We are reaffirming our full-year guidance and remain confident in our ability to achieve above-market growth and margin expansion,” he said. Fund managers in Australia are angry they do not get to vote on the James Hardie-Azek deal, while Azek shareholders in the US do.
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Last
$41.53 |
Change
0.180(0.44%) |
Mkt cap ! $17.85B | |||
| Open | High | Low | Value | Volume |
| $41.29 | $41.84 | $41.19 | $58.11M | 1.398M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 1095 | $41.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $41.56 | 14 | 1 |
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| Last trade - 16.10pm 29/07/2025 (20 minute delay) ? |
| JHX (ASX) Chart |