James Hardie makes consumer pitch

Building materials supplier James Hardie wants to win over homeowners as a consumer brand, while it continues paying compensation to asbestos victims.

The company on Tuesday posted a gain in full-year net profit after tax of nine per cent and is using a global marketing campaign to deal directly with homeowners as a push for more profits.

Chief executive Jack Truong said extending the Hardie brand from being a professional one to a consumer one was a strategic move.

He expects this will create demand from homeowners for Hardie products.

The company will share more details at an investor presentation on May 25.

Hardie has been infamous for previously downplaying the threat posed by the asbestos building materials it used to install.

Inhaling asbestos fibres causes diseases such as mesothelioma. Hardie asbestos products killed many unsuspecting victims.

The company continues to pay compensation to victims.

Hardie’s full-year profit was $US262.8 million. There was no final dividend given a special dividend was paid earlier this year.

Shares were down 4.87 per cent to $40.05 at 1155 AEST.

Be the first to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.