James Hardie Reaffirms Guidance After 36% Rise in FY22 Profit

By Stuart Condie

SYDNEY--Building materials supplier James Hardie Industries PLC reaffirmed its current year guidance after reporting a 36% rise in profit for the 12 months through March.

The Australia-listed firm, which reports in U.S. dollars, posted adjusted net income for its 2022 fiscal year of $620.7 million, compared with $458.0 million a year earlier. Profit rose by 75% to $459.1 million on a statutory basis.

Sales revenue rose by 24% to $3.61 billion, aided by a 25% rise in sales from North America fiber cement.

James Hardie declared a final dividend of 30 U.S. cents per security and reaffirmed fiscal 2023 guidance for adjusted net income of between $740 million and $820 million.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

May 16, 2022 18:41 ET (22:41 GMT)

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