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Business Description: JHX’s fibre cement products and systems under various Hardie brand names and other brand names such as Artisan Lap and ArtisanTM Accent Trim by James Hardie, Cemplank and Prevail siding (we also formerly marketed siding under the brand name SentryTM siding), Scyon, Stria siding, and HardieBacker.
Strategy Analysis: JHX is focused on aggressively growing primary demand for products in the targeted market segments; growing overall market position while defending existing market segments; offering superior comparative value to that of competitors; and continually introducing differentiated products to improve product mix and increase margins. The company aims to maintain its competitive advantage through continual investment in research and development and the introduction of higher priced and higher margin differentiated products. A zero landfill target to limit waste in the production process assists overall margin management. Excess free cash flow is returned to shareholders.
James Hardie Industries reported NPAT down 35% to US$83.5m for the half-year ended 30 September 2012. Revenues from ordinary activities were US$674.1m, up 4% from the same period last year. EBIT excluding asbestos and ASIC expenses decreased 10% to US$103.6m. EBIT including asbestos and ASIC expenses decreased from US$161.1m to US$105.3m. Diluted EPS was 19.0 US cents compared to 29.2 US cents last year. Net operating cash flow was US$7.8m compared to US$37.1m last year. The interim dividend declared was US 5.0 cents compared with US 4.0 cents last year. The company noted the range of analysts' forecasts for net operating profit excluding asbestos for the year ending 31 March 2013 is between US$147.0m and US$178.0m.
The Age 21/05/2013 |
Optus says its 4G mobile network will reach 70 per cent of the Australian population by mid-2014. The carrier revealed it has upgraded 4000 3G sites to 4G in five capital cities and in Coffs Harbour, the Gold Coast and Byron Bay. It also plans to make its 4G network suitable for customers with dual-band 4G mobile devices.
The Age 21/05/2013 |
Hong Kong private equity firm Quantum Pacific Capital says it is best placed to resolve a dispute over the ownership of a troubled $5 billion copper and gold project in Java and is negotiating to grab back as much as 80 per cent of the project on behalf of former owner Intrepid Mines.
The Age 21/05/2013 |
Shareholders in Transfield Services were bracing themselves on Monday for an earnings downgrade following downgrades by other mine services operators such as UGL, WorleyParsons and the smaller Coffey International last week.
The Age 21/05/2013 |
The whole retail recovery story has wandered perilously off script over the past quarter. The start of the year held the promise of green shoots at the discretionary spending end. But as we near the close of the financial year, the fragile recovery appears to have been nipped in the bud.
The Age 21/05/2013 |
New Leighton Holdings chairman Bob Humphris has moved to dispel fears that its directors remain at war with its German parent Hochtief, insisting the relationship was "collegiate" despite the abrupt resignation of three fellow directors two months ago.
The Age 21/05/2013 |
Australian shares flirted with five-year highs on Monday, returning to levels not seen since the onset of the global financial crisis, as investors were spurred on by signs of strength in the US economy.
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