CRH sees sales decline slowing, expects strong H2

Building materials group CRH today said it expected its sales decline for the year to date to reduce to approximately 10%, compared with the 14% decline to end April reported in early May.

In an interim trading statement issued this morning for the six months to June 30, 2010, the company said it now expects that first-half profit before tax is expected to be close to break-even after after restructuring costs of approximately €30m.

This compares to pre-tax profits of €0.1bn for H1 2009.

Earnings for the seasonally less profitable first half of the year will show a decline of approximately 20%, compared to EBITDA of €0.65bn for H1 2009, the company said.

Operating profit for the six months to June is expected to be approximately half of last year's €0.24bn.

The group meanwhile said it has spent €133m on 13 separate acquisitions over the first half of the year.

CRH said it expects its earnings for the seasonally more important second half of the year to beat the €1.15bn it made during the same period last year.

"CRH remains very well positioned to deliver a healthy transaction flow as trading visibility improves," the statement said.

"In the meantime we remain focussed on delivering strong cash performance from our existing businesses."

More in this Section

Dublin Airport celebrates 80 years with reflection and expansionDublin Airport celebrates 80 years with reflection and expansion

Netflix chief confirms interest in deal with Harry and MeghanNetflix chief confirms interest in deal with Harry and Meghan

Sajid Javid issues post-Brexit warning to business leadersSajid Javid issues post-Brexit warning to business leaders

Markets jump despite fresh US-China concernsMarkets jump despite fresh US-China concerns


I see that a website describes the call of Canarian cory’s shearwaters as ‘waca waca’. It’s a mad, hysterical call, uttered when the parent birds arrive to feed their nestlings.Cory’s shearwaters show long-distance qualities

Is it too much to hope that an important public health matter, such as Lyme disease, will be an issue in the general election? There’s been a worrying reluctance by the authorities to face up to the extent of the disease here.Facing up to Lyme disease

A paper published in Current Biology examines the extinction of a colourful little bird which, until recently, thrived in the eastern US. With the appalling environmental catastrophe enveloping Australia, home to 56 of the world’s 370 parrot species, this account of the Carolina parakeet’s demise is timely.Trying to save the parrot is not all talk

The recent rescue of a trawler 20km north of Fanad Head in Co Donegal gave us a glimpse of the enormous seas that occasionally strike that part of the coast.Islands of Ireland: Inishbeg Island begs the question

More From The Irish Examiner