CRH has said it remains committed to its UK business, despite falling profits and a looming Brexit, and has defended itself against recent criticism from one of its key shareholders.

CRH has confirmed its intention to continue its share buyback programme and return up to a further €350m to investors by August.

Albert Manifold has been appointed as group chief executive of construction giant CRH, effective January 1, 2014.

CRH spent €536 million on acquisitions and developmental initiatives last year — which, while down on the multi-billion euro levels seen in previous years — was comfortably ahead of 2009’s €450m outlay.

Building group CRH today announced that the company's current MD of European materials, Declan Doyle, has joined the board.