RPT-James Hardie sees FY profits in middle of forecast range
WELLINGTON Nov 15 (Reuters) - Australian building materials maker James Hardie Industries Ltd on Thursday said it expected its full-year earnings to come in at the middle of its forecast range, at it saw some signs of a recovery in the global housing market.
"We think we'll be looking more like flat, than right at the bottom of the range we gave you," James Hardie Chief Executive Officer Louis Gries told reporters, after the company announced a fall in profits for the second quarter and half year.
The company said it expects profits excluding asbestos and tax adjustments to come in at $140 million to $150 million for the year ending in March, down from a previously stated range of $140 million-$160 million.
Its share price fell around 6.5 percent in early trade.
- Sunken Korea ferry relatives give DNA swabs to help identify dead |
- Vice-principal of South Korea school in ferry disaster commits suicide |
- Special Report: How the U.S. made its Putin problem worse
- Death toll climbs to at least 13 in worst tragedy on Everest |
- All 338 Korean students, teachers rescued from sinking ferry - school official