CRH builds up €100m profits

IRELAND’S record breaking residential building boom helped to boost profits at CRH by €100 million since January but the boss of the building material giant says the boom cannot last indefinitely.

CRH chief executive Liam O’Mahony said while the extent of the residential property building splurge has taken people by surprise it is not likely to come to an abrupt end but will result in demanding slowing.

“The present level of demand will taper off. It is hard to conceive it will stay at this level indefinitely,” Mr O’Mahony told the Irish Examiner yesterday.