ASX-listed cement manufacturing company James Hardie Industries has posted a $200.1 million revenue from its fibre cement segment sales in the Asia Pacific for the company’s first quarter of fiscal year 2023 financial report. The current figure marks a 9 per cent uptick compared to that of the previous year’s same period.
The world-leading producer and marketer of fibre cement and fibre gypsum building solutions issued its quarterly financials Tuesday, presenting global net sales amounting to USD 1.9 billion— a 19 per cent increase from the first quarter of 2022.
The company said all three of its operating regions—North America, the Asia Pacific, and Europe— have maintained compliance with the global strategy of driving high-value product mix penetration.
“Our critical strategic initiatives remain unchanged and are: (1) market directly to homeowners to accelerate demand creation, (2) penetrate and drive profitable growth in existing and new segments, and (3) commercialize global innovations by expanding into new categories,” the company said in a press release.
Harold Wiens, interim CEO at James Hardie, said the company’s performance is the result of allowing customers to make more money by selling more James Hardie products and creating demand for its products by marketing directly to homeowners.
“The team’s performance is reflected in strong Price/Mix growth in all three regions, including North America Price/Mix growth of +17%, Asia Pacific Price/Mix growth of +12% and Europe Price/Mix growth of +14%,” Wiens said.
“The current macroeconomic environment is not only creating uncertainty for the housing markets in all three regions we do business in, but it is also putting pressure on our fiscal year 2023 financial results due to increased input and freight costs.”
