CRH upbeat on 2017 outlook

CRH has hailed a “satisfactory” start to 2017, with first quarter sales ahead by 4% on a year-on-year basis.

Ahead of its annual shareholders meeting this morning, the Dublin-based building materials giant yesterday said that like-for-like group sales were ahead by 3% in the first three months, mainly driven by its European operations which grew sales by 6% on an annualised basis.

CRH said that it expects total group earnings — on an EBITDA basis — to be ahead, year-on-year, for the seasonally less significant first half. It also continues to expect to make “further progress” — based on current momentum — on a group EBITDA basis in the second half of 2017.