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Business Description: James Hardie Industries Plc (JHX) is involved in the residential and commercial building industries. JHX's flagship product is fiber cement, with applications in external siding, internal walls, ceilings, floors, soffits and fences. Its products and services include exterior products, Colorplus Technology, interior products and weather barrier. The principal markets are the US, Australia, New Zealand, the Philippines, Canada, and Europe - UK and France.
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.
Nick Swales, Regional Director, Newcastle Office, Rathbones 27/10/2014 |
â€śIf you want to have a better performance than the crowd, you must do things differently from the crowd.â€ť Sir John Templeton.
Ric Spooner (Chief Market Analyst, CMC Markets) 20/10/2014 |
Today, Australian investors will not have to go it alone buying stocks as they did for much of last week. Bargain hunters this morning will be supported by the morale boosting encouragement of a 3% turnaround in the German Dax and a 264 point rally in the Dow Jones.
Carl Richards, director of investor education at the BAM Alliance 17/10/2014 |
â€śAs odd as it may sound, the sooner you start treating your investments like you treat life, the happier youâ€™ll be with the outcome.â€ť
William H. Gross, Janus Capital Group 16/10/2014 |
â€śFinancial markets are artificially priced. In the bond market, there is nothing normal about a three year German Bund yielding â€śminusâ€ť 10 basis points.â€ť
CMC Markets 8/10/2014 |
Share market indices around the globe are breaking down. While analysts cast around for reasons, itâ€™s clear that a time factor is in play. Simply put, many investors â€śfeelâ€ť a correction is overdue. How low could it go?
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