Building Materials Company CRH 1Q Sales +9%; Sees 1H16 Ebitda Close to EUR1 Billion
April 27 2016 - 3:14AM
Dow Jones News
By Olga Cotaga
LONDON--CRH PLC (CRG.DB) Wednesday said that sales adjusted for
one-off items and on a constant currency basis rose 9% compared
with the same period a year earlier.
The building materials company added that it expects group
earnings before interest, taxes, depreciation and amortization to
be close to 1 billion euros ($1.13 billion) for the first half of
the year.
CRH expects Ebitda in Europe for the first half of the year to
be slightly up compared with the same period in 2015. For its
Americas markets, with the benefit of a positive demand environment
and the strong start to the year, it sees Ebitda well ahead.
The company said it expects a broadly stable backdrop in Europe
for the second half of the year, and for construction demand to
continue to grow at a modest pace in the U.S. It anticipates
results in the Philippines to be ahead of the second half of
2015.
For the three months ended March 31, the company recorded sales
in the Americas up by 22%, sales in Europe in line and sales in
Asia up by 12%, it said.
Shares closed at 2005.79 euro cents on Tuesday, they have fallen
2.6% over the last 12 months.
Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter
@OlgaCotaga
(END) Dow Jones Newswires
April 27, 2016 02:59 ET (06:59 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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