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UPDATE 1-James Hardie Industries sees higher FY22 earnings on robust housing market

(Adds outlook, background)

May 18 (Reuters) - James Hardie Industries on Tuesday forecast higher fiscal 2022 earnings, as robust homebuilding markets in the United States and Australia drove demand for the company’s fibre cement products.

Even as Europe, U.S. and Australia suffered from a coronavirus-led slump last year, the housing sector has picked up gradually, supported by low mortgage rates and an improving outlook.

James Hardie, the world’s biggest maker of fibre cement products, forecast adjusted net income for fiscal 2022 to be between $520 million and $550 million.

The Dublin-based company’s 2021 profit rose 30% to $458 million, compared with a Citi estimate of $451 million.

James Hardie’s North American fibre cement business posted a 12% rise in net sales for the year. (Reporting by Harish Sridharan in Bengaluru; Editing by Shailesh Kuber and Shounak Dasgupta)

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