James Hardie Industries (ASX:JHX) has reported a drop in third quarter profit.
Net operating profit excluding asbestos-related expenses was $US21 million for the December quarter.
The building materials group has downgraded its full year guidance, lowering expectations for the year to March 2011 to be between $US105 million and $US115 million, down from prior estimates of $US110 million to $US125 million.
The company warned that there was no evidence of a recovery in the US housing market.
James Hardie reported a half yearly loss of $329.78 million to 30 September 2010.
