CRH expects 10% growth in first-half earnings

First-half earnings at CRH are expected to be up by around 10%, year-on-year, on a constant currency basis, with management expecting progress to continue for the remainder of the year.

The building materials company is set to become the sector’s third largest global player if it succeeds in its expected €6.5bn takeover of certain assets being disposed of to make way for the merger of European cement powerhouses, Holcim and Lafarge. It said yesterday that a satisfactory start to 2015 has been noted with sales from continuing operations up 2.5%.

“While first-half results, for this year, will exclude earnings before interest, tax, depreciation and amortisation contributions of €45m from divested businesses, overall, including the benefit of favourable foreign exchange translation effects, group earnings before interest, tax, depreciation and amortisation for the first six months of 2015 is expected to be ahead of last year’s €505m,” management said in a trading update ahead of its annual shareholders meeting this morning.