(Reuters) -James Hardie Industries, the world's largest fibre cement maker, on Tuesday forecast lower earnings for fiscal 2025 as a high interest rate environment in its biggest market constrained housing demand.
The Dublin-based firm expects adjusted net income for fiscal 2025 between $630 million and $700 million. Adjusted net income for fiscal 2024 was $707.5 million, up 17% from a year ago.
Persistently high interest rates and sticky inflation have weighed on the housing sector in the North American market, which makes up for about 74% of the company's global net sales.
Its fiscal 2024 net sales stood at a record of $3.94 billion, up 4% from a year earlier.
"The outlook for the housing markets we participate in globally continues to remain uncertain", the company said.
(Reporting by Aaditya Govind Rao in Bengaluru; Editing by Shailesh Kuber)
