Materials giant forecasts 25% jump in earnings

CRH has forecast a 25% year-on-year jump in earnings for its traditionally less significant first half.

The Dublin-based international concrete and cement producer is not due to report interim figures — for the first six months of this year — until mid-August, but said yesterday, via a trading update to coincide with its annual shareholders’ meeting, that it expects group Ebitda (earnings before interest, tax, depreciation and amortisation) to come in at around €500m for the first half of 2014; up from €400m for the corresponding period last year.

A large part of that forecast relies on an anticipated recovery in its North American operations — where trading is expected to improve over the course of this month and next — and more normal weather patterns in all of its core geographical markets.