CRH forecasts poor first half as profits expected to plummet by 67%

FIRST-HALF results from CRH, the biggest listed company on the stock market, hit a brick wall in the first half due to poor demand across its core markets.

CRH warned in a trading update that first-half operating profits would be down 67%, with pre-tax earnings due to fall 80% to €100 million, after restructuring costs of about €75m and currency translation impacts of about €20m.

That contrasts with profits of €600m for the first half of 2008.