August 9, 2018 / 9:54 PM / 4 months ago

Australia's James Hardie posts 29 pct jump in Q1 profit

Aug 10 (Reuters) - Australia’s James Hardie Industries PLC , the world’s biggest fibre cement product maker, said first-quarter profit grew 29 percent on a stronger U.S. dollar and construction in the United States.

Adjusted operating profit was $79.9 million for the three months to June 30, up from $61.7 million a year ago. Operating profit excludes one-off items like the company’s compensation payments to people claiming asbestos-related illness.

James Hardie’s unadjusted net profit for the quarter rose 58 percent to $90.6 million. (Reporting by Ambar Warrick in Bengaluru Editing by Byron Kaye and Phil Berlowitz)

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