News: JHX UPDATE 1-Australia's James Hardie posts jump in profit, sees stronger 2019

(Adds details, outlook, macroeconomic context)

Aug 10 (Reuters) - Australia's James Hardie Industries PLC (JHX) , the world's biggest fibre cement product maker, said its first-quarter profit grew 29 percent on a stronger U.S. dollar and demand from U.S. housebuyers, and flagged further growth in its 2019 earnings.

Adjusted operating profit was $79.9 million for the three months to June 30, up from $61.7 million a year ago. Operating profit excludes one-off items like the company's compensation payments to people claiming asbestos-related illness.

The company said it expects adjusted net operating profit to be between $300 million and $340 million in fiscal 2019, compared to $291 million in fiscal 2018.

James Hardie, which makes most of its revenue in the United States, benefited from a surge in new U.S. home sales in April and May, although housing sales cooled in June. A spike in the U.S. dollar .DXY over the quarter also helped.

The company's North America Fiber Cement segment clocked a 10 percent rise in sales, and benefited from increased sale prices.

It said it expects earnings from the segment to be at the top end of its 20 to 25 percent growth range in 2019.

James Hardie's unadjusted net profit for the quarter rose 58 percent to $90.6 million. The company attributed the jump chiefly to its closing of the Fermacell acquisition, which was incorporated into its first quarter results.