Premise: SYDNEY James Hardie Industries Plc (JHX.N), the world's biggest fiber cement products maker, said on Thursday it expects the U.S. housing construction market to improve as it posted a 15 percent jump in fourth quarter sales. Sales were $376.4 million for the three months to March 31, compared to $326.8 million for the same period the previous year. The company's net operating loss for the quarter grew to $186.8 million from $69.5 million a year earlier because of an increase in asbestos adjustments. (Reporting By Byron Kaye; Editing by Diane Craft)
Hypothesis: Asbestos adjustments led to an increase in operating losses.