CRH set for €1bn spend

Building materials giant CRH is expected to spend over €1bn this year on bolt-on acquisitions, with outlay in the first quarter alone already topping €600m.

Earlier this month, on the back of a strong set of annual results, CRH chief executive Albert Manifold said the group could comfortably spend between €2bn and €3bn on acquisitions over the next 18 months, but stressed this range related to spending capacity rather than fixed outlay targets.

However, the same results presentation noted that CRH has already spent around €500m on eight acquisitions and investments since the turn of the year — more than double the amount spent in the whole of 2016. It also raised around €400m via disposals last year.