CRH ‘well-positioned’ for acquisition opportunities

CRH has said it remains “well-positioned” to benefit from acquisition opportunities, even after completing a further six bolt-on purchases during the third quarter of the year.

The Dublin-headquartered building materials and cement products giant yesterday reiterated its guidance for a return to full-year profit this year, saying it now expects annual earnings to rise by around 10%. The group swung back into profit in the first six months of this year, following a €215m loss in 2013.

In its latest trading update, CRH said it saw 3% sales growth, on a like-for-like basis, for the third quarter of the year, with earnings up by 6%. That growth was mainly driven by performance in the Americas, where sales increased by 6%, while a 2% decline was noted in Europe.