Negative reaction to CRH results

BAD weather and currency factors had a negative impact on the results of Ireland’s top construction group in the first half with profits falling 18% in that period.

The CRH group which effected one of the biggest takeovers in its history some weeks ago saw its shares plunge 0.50 during the day to 16.55 as the markets reacted badly to the results.

Figures released yesterday show the building materials group achieved pre-tax profits of €161m for the first half of the year, a drop of 18% compared with the same period last year.