James Hardie returns to profit

James Hardie Industries reported a net profit of $US604.3 million ($AUS613.16 million) for the full year to March 31, compared with a $US347 million loss in the 2011 financial year.

The result was boosted by $US485.2 million from a legal victory against the Australian Taxation Office in March.

However, the building products maker says it expects Australia’s residential construction activity to continue to contract in the coming 12 months.

This article first appeared on SmartCompany.

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