CRH to pursue acquisitions and offer dividends despite 80% drop in profit

BUILDING materials giant CRH will continue to look for value-added bolt-on acquisitions in its emerging market operations and plans to maintain paying a dividend to shareholders, despite a tough first half which saw profits fall more than 80%.

Latest figures, released yesterday by the Dublin-based company, showed that it made a pre-tax profit of €108 million for the first half of this year – 82% down on the €606m first- half profit generated last year.

The slump was driven by a €74m restructuring cost and a €21m hit from negative exchange rate movements.