James Hardie's ASX-listed shares near one-year high after earnings forecast upgrade

Aug 7 : James Hardie raised its annual earnings forecast on Friday, citing AZEK acquisition synergies, manufacturing efficiencies and demand in its legacy fiber cement business, sending its Australia-listed shares to a near one-year high. The company also reported a 54 per cent jump in first-quarter adjusted net income to $209.3 million, from $136.1 million a year earlier.ASX-listed shares of the Dublin-headquartered firm surged as much as 5.4 per cent at the open, in contrast with a 0.4 per cent decline in the broader market. Siding & Trim, the company's biggest profit-generating segment, remained under pressure all through last year as affordability constraints in the U.S. slowed new construction activity and left distributor inventories elevated. Rather than a recovery in the underlying