James Hardie 1st Half Net Loss Rises To US$318.8 Million, Warns On US Outlook

James Hardie Industries SE (JHX.AU) warned Monday that the U.S. residential housing market outlook remains uncertain after the company's first half net loss more than tripled to US$318.8 million.

James Hardie Chief Executive Office Louis Gries said high unemployment, low consumer confidence and falling house prices have contributed to continued weakness in the U.S housing construction sector.

"The operating environment in the U.S. residential housing market remains challenging and the outlook uncertain," Gries said in a statement.

The building materials company's net loss rose for the six months ended Sept. 30 rose from US$97.5 million a year earlier.

The first half result was hit by a tax charge of US$345.2 million after it lost an appeal of a tax ruling.

Operating profit excluding asbestos liabilities and tax adjustments fell 23% to US$61.2 million.

The company didn't pay an interim dividend.

-By Rebecca Thurlow, Dow Jones Newswires; 61-2-8272-4679; [e-mail]