CRH shares tumble 4% after update on 'challenging' European market

The company anticipates sales growth to be slower in Europe due inflationary pressures and a slowdown in the new-build residential sector

CRH chief executive Albert Manifold: 'We had a positive start to the year in a seasonally quiet trading period.' Picture: Naoise Culhane 

Irish building materials giant CRH shares tumbled more than 4% after it published a mixed trading update which predicted that sales for the first half of the year will be ahead of expectations but the European market will remain challenging for the company.

It said it anticipates sales growth to be slower in Europe due to inflationary pressures and a slowdown in the new-build residential sector.