CRH to deliver 18% profits increase

BUILDING materials giant CRH is on course to deliver an 18% increase in pre-tax profits when it issues first-half results next week, according to research by NCB Stockbrokers.

Analyst John Sheehan said CRH’s bottom line would be in the region of 376 million for the six months to June. Earnings per share would be 15% higher at 54.9c, while the dividend payout would be about 11c, a 15% increase on last year’s interim figure.

But Mr Sheehan warned of sharp contrasts between CRH’s European and American divisions. Earnings before interest, tax, depreciation and amortisation would be almost 57% higher from America, but Europe would be sluggish and deliver growth of just 3%.