James Hardie expecting to meet profit target

Building materials company James Hardie is on track to deliver a higher annual profit as forecast in spite of uncertainty in the US housing market.

AAP reports that the company is targeting a full year adjusted net operating profit of between $US230 million and $US250 million ($A329.39 million-$A358.04 million). This would be an increase of about 13 per cent from the previous year.

In November, volatility in the US housing market led James Hardie to downgrad its profit forecast by up to $US20 million.

In October the company announced a management realignment that re-established the JHBP President's position and Management Team. This change was intended to better position the company to address the execution gaps that were contributing to the reduction of PDG.

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