James Hardie Industries plc (JHX) has reported a 246.06 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $87.90 million in the quarter, compared with $25.40 million for the same period last year. Revenue during the quarter grew 9.64 percent to $453.80 million from $413.90 million in the previous year period. Gross margin for the quarter contracted 196 basis points over the previous year period to 34.16 percent. Total expenses were 76.05 percent of quarterly revenues, down from 87.41 percent for the same period last year. This has led to an improvement of 1137 basis points in operating margin to 23.95 percent.
Operating income for the quarter was $108.70 million, compared with $52.10 million in the previous year period.
Operating cash flow improves significantly
James Hardie Industries plc has generated cash of $265.80 million from operating activities during the nine month period, up 32.57 percent or $65.30 million, when compared with the last year period. The company has spent $60.10 million cash to meet investing activities during the nine month period as against cash outgo of $44.70 million in the last year period.
The company has spent $231.20 million cash to carry out financing activities during the nine month period as against cash outgo of $127.80 million in the last year period.
Cash and cash equivalents stood at $88.10 million as on Dec. 31, 2016, down 6.77 percent or $6.40 million from $94.50 million on Dec. 31, 2015.
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