Shares in building material manufacturer James Hardie have plummeted more than 25 per cent after it posted a massive drop in first quarter sales.
The company's net income tanked by 60 per cent to $US62 million ($A96 million) in the quarter to June 30 compared to the equivalent quarter, due in part to softening construction in the US and weaker demand in Australia and New Zealand.
Investors were unimpressed, unloading shares which tanked 30 per cent to $31.18 in early trade, their lowest price since April 2023.
