James Hardie battles weak demand in Australian reno market

Wall cladding and plasterboard maker James Hardie has been frustrated by weak demand in the Australian housing market, where rising costs and high property prices are deterring potential renovators.

Rising wages and freight charges compounded the effect of softening demand and caused earnings before interest and tax to drop 11 per cent to $41.2 million in the three months ended June 30 for its Asia-Pacific division, dominated by Australia.