James Hardie Industries (ASX:JHX), a global leader in fiber cement and fiber gypsum building products, released its half-year results for the period ending September 30, 2024. The company recorded flat net sales of approximately $1.95 billion USD and a 23% decrease in net profit to $238.7 million USD. Despite these challenges, the company reported a 14% rise in net tangible assets per ordinary share to $3.78 USD.
James Hardie Industries reported mixed results for its half-year ending September 30, 2024, with flat sales but a notable 23% decline in profit. The company maintained strong margins and increased net tangible assets per share, reflecting operational resilience. The company did not issue dividends and completed the sale of FELS Recycling GmbH. Looking ahead, James Hardie anticipates improved market conditions in North America, targeting volume growth and margin expansion in FY26. Strategic initiatives focus on organic growth, capital allocation, and shareholder returns, with continued investments in capacity expansion and a new $300 million share repurchase program.
Our performance was strong despite market challenges, driven by strategic investments and operational efficiencies.' 'We maintained solid margins and cash flow, allowing us to prioritize organic growth and capital allocation.