Profits at CRH surge 71% to €275m

BUILDING materials group CRH delivered strong first-half results yesterday, with pre-tax profits surging 71% to €275 million.

The company benefited from significant contributions from new businesses acquired last year, as well as a resilient performance from existing operations, as they bounced back in line with improved weather that fuelled demand for its products.

Sales rose 22% to €5.7 billion in the six months to June. Chief executive Liam O'Mahony said markets had improved and were in better shape than a year ago. The group's second-half performance will suffer from higher oil and energy prices, rising input costs and a dollar that was stronger against the euro than at this time last year. But he was confident the group would report a healthy increase in profits.