CRH issues profit warning for first half of the year

THE global downturn has forced CRH, the world’s second largest builder materials group, to issue a profit warning for the first half of the year.

Group chief executive Myles Lee said after the group’s annual general meting in Dublin yesterday the group has shed about 15% of its 90,0000 staff globally due to the severity of the downturn in its core markets.

Shares in the group suffered one of their biggest one day falls in recent months and lost 7.2% of their value to close at €18.40 in Dublin.