CRH surge boosts ISEQ

CRH shares have seen a 27c surge in value after the company made a positive trading statement earlier today.

The building materials group CRH expects half-year, before-tax profits to be up by 25% compared with the reported 2006 outcome of €387m.

Profits on disposal of fixed assets was €17m for the first half of 2006 and €40m for the year. CRH anticipates that profits on disposals for 2007 will be ahead of those levels, the company said today.

The shares are currently trading at €36.90.

Still in the property sector - those on the investments side this time - Fyffes spin-off Blackrock International Land shares have stayed level at 49c after the company announced it had completed the €42m purchase of the landmark Olympiades office building in the Evere district of Brussels.

Overall, the ISEQ was up 20.10 points.