CRH reports increased profits and plans to withdraw from Russia

Construction material supplier reported earnings of €4.83bn for 2021

The CEO of CRH Albert Manifold said the investment in concrete panel and readymixed plants in Saint Petersburg would barely stretch to €1.5m or €2m.

Building materials giant CRH will cease operating what it described as "infinitesimally small" Russian operations and has temporarily shut its much larger plants in Ukraine.

The Irish firm is the world's second-biggest building materials supplier. CEO Albert Manifold told Reuters the investment in concrete panel and readymixed plants in Saint Petersburg would barely stretch to €1.5m or €2m and a withdrawal from the Russian market was on its radar anyway.