Australia's James Hardie shares slump, touch 4-month lows after profit drop

SYDNEY Thu Aug 14, 2014 8:16pm EDT

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SYDNEY Aug 15 (Reuters) - Shares in Australia's James Hardie dropped as much as 7.5 percent to touch four-month lows on Friday after posting an 80 percent fall in fiscal first quarter net profit and revised down its full-year earnings.

Shares in the world's biggest fiber cement products maker recovered slightly to trade 6.8 percent lower at A$13.08 by 0011 GMT. The profit fall and revised earnings outlook were due to an uncertain U.S. economic recovery. (Reporting by Thuy Ong; Editing by Paul Tait)

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