Building firm upbeat as it returns profit of €61m

CRH expects to see its financial recovery continue during the second half of the year, after swinging back into profit in the first six months.

The Dublin-headquartered building materials and cement products giant yesterday reported pre-tax profits of €61 million for the first half of 2014; up from a loss of €71m for the corresponding period last year. While 2013, on the whole, saw CRH report a €215m pre-tax loss, chief executive Albert Manifold said it represented a turning point in the group’s profit cycle and growth was returning.

The first half of this year also saw CRH’s operating profits jump from €41m to €171m; interim revenues grow by 4% to €8.32bn and EBITDA grow, year-on-year, by 27% to €505m.