Building materials producer James Hardie (ASX:JHX) today reported a US$19.5 million ($21.3 million) net loss for the three months to September 30.
But the company’s share price jumped 7.3% to $7.94 after notifying the market it expects its full-year profit to be at the top end of analysts’ estimates.
The range of analysts’ forecasts for operating profit excluding asbestos claims is between US$77 million and US$115 million, the company said.
Exluding asbestos, ASIC expenses and tax adjustments, the company recorded an operating profit of US$37.6 million.
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