(Adds details, context)
Nov 7 (Reuters) - James Hardie Industries (JHX) , the world's biggest fiber cement maker, on Thursday raised it full year adjusted net operating profit guidance amid an improving U.S. housing market, and posted a 17% rise in first half adjusted operating profit.
The Dublin-based company raised its full year adjusted net operating profit forecast to between $340 million to $370 million, up from an earlier forecast of $325 million to $365 million.
Last week data showed the U.S. housing market is stabilizing, supported by lower interest and mortgage rates.
However, James Hardie sees "high single digit percent contraction" in Australia's housing market in the 2020 fiscal year.
This comes amid signs the housing market is recovering from a two-year property downturn that has vexed the sector.
Building products firm Boral Ltd (BLD) on Wednesday warned of a weaker first half in fiscal 2020, citing a softer housing market, but said there were signs of improvement.
James Hardie's adjusted operating profit in the half year ended Sept. 30 came in at $188.8 million, up from $160.8 million a year ago.
News: JHX UPDATE 1-James Hardie flags higher FY earnings as U.S. housing market improves
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