CRH warns profits to fall 30% to 55% for 2009

CRH, the Irish stockmarket’s largest company, warned yesterday it could not say when world construction would return to solid growth.

In its end of year statement, it said profits would be down by 30% to 55% for 2009.

The forecasts are in line with market expectations but shares in one of the world’s leading builders providers were down more than 3.7% at €18.77 by 2.45pm, a fall of 73 cent on the day at that stage. The stock closed down 3.8% to €18.75.