Why it matters: James Hardie is a major building materials supplier in Australia
The rising cost of building supplies is negatively impacting construction groups
The company says the renovation market is softening as families put off projects
James Hardie has posted an increase in earnings and higher margins despite a slowdown in housing construction after pushing through price rises of 12 per cent at its Australian and New Zealand operations.
Shares in the building products group rose 14.4 per cent to close at $46.62 on Tuesday. They are now trading at their highest level since early last year, when the company lost its chief executive amid bullying allegations.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
