Rise in Asbestos Claims Not Hurting James Hardie’s Bottom Line
Australian construction company James Hardie says a rise in mesothelioma claims from former workers exposed to asbestos on the job is not affecting its bottom line. The company recently released its semi-annual profit statement to the Australian stock exchange. The report shows that James Hardie has doubled its profits from the first half of 2013, despite the fact that the number of mesothelioma-related asbestos claims has risen above company expectations. Company profits were reported to be $108.3 million from April to September. Quoted in the Sydney Morning Herald, James Hardie CFO Russell Chenu said, “We have seen some concerning trends in mesothelioma claims, which we have highlighted previously. We’ve now got a better handle on the ‘what’ and the ‘how’,…