James Hardie raises 2021 profit forecast on high demand for renovation

Adds details on markets, 2021 forecast

Oct 14 (Reuters)Australian building materials supplier James Hardie Industries JHX.AX on Wednesday raised its full-year profit forecast and said it expected to post record second-quarter results, boosted by solid demand for its services across markets.

Since the COVID-19 pandemic related shutdowns hammered sales earlier in the year, there has been a recovery in Asia Pacific and European markets.

James Hardie, the world’s biggest fibre cement maker, said the all-time high quarterly sales were “made possible by having all three operating regions deliver growth above market.”

In August, it said sales in North America, one of its biggest markets, were buyoed by homeowners turning to renovation amid the pandemic.

The company increased its fiscal 2021 forecast for underlying net operating profit after tax (NOPAT) to between $380 million and $420 million, from an earlier projection of $330 million and $390 million.


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Sweetheart Kitchen Raises US$17.7 Million In Series C Funding Round To Launch New Brands And Kitchen Units Across MENA

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Cloud kitchen operator Sweetheart Kitchen has successfully secured €15 million (US$17.7 million) in a Series C funding round backed by strategic investors, led by the company’s founder and CEO Peter Schatzberg.

As a delivery-only multi-brand virtual kitchen, Schatzberg notes that the Dubai-based company is keen to invest their funding into supply chain technology, food design and hiring talent, as they had previously done, and which they plan to continue to do so. “Scaling units is certainly one important objective for us, but we are also investing in streamlining our processes and systems to achieve profitability.”

As a company that is only 15 months old, it’s noteworthy to point out its impressive milestones. The startup (which, according to a Wamda report, is backed by Germany’s Delivery

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Electrician Raises Over $100K For Woburn Woman’s Crumbling Home

Woburn's John Kinney inspired over 10,000 in his quest to fix up Gloria Scott's home.

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Woburn’s John Kinney inspired over 10,000 in his quest to fix up Gloria Scott’s home.

WOBURN, MA — In early August, Woburn’s Gloria Scott called =electrician John Kinney due to an issue with one of her light fixtures. On arrival, he quickly realized the problems were much larger than that one light.

Less than two months later, Kinney has raised over $100,000 for his fellow Woburnite, and brought together local contractors and tradesmen to fully renovate her home.

Scott, 72, lives alone and is on a fixed income. After his first visit, Kinney immediately called for volunteers on Facebook, before launching the Facebook fundraiser and then creating a Facebook group, Gloria’s Gladiators, to bring every available resource to bear.

“I got some volunteers together and we went in there and did a ton of yard work and cleanup,” Kinney wrote in the fundraiser description. “Everyone did an

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