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James Hardie first-quarter profit dips 1%

Aug 11 (Reuters) – Australia’s James Hardie Industries on Tuesday said first-quarter profit fell 1%, hit by low sales volumes in Europe and the closure of several manufacturing plants due to the COVID-19 pandemic.

The world’s biggest fibre cement maker said adjusted net operating profit for the quarter ended June 30 was $89.3 million, compared with $90.2 million a year ago.

The Dublin-based company, which had previously withheld its annual forecast citing coronavirus-led uncertainty, said it expects adjusted net operating profit between $330 million and $390 million in fiscal 2021. (Reporting by A K Pranav and Arundhati Dutta in Bengaluru; Editing by Devika Syamnath)

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