CRH 1st Half Net Profit Soars on Americas Business, Acquisitions
August 25 2016 - 2:55AM
Dow Jones News
By Rory Gallivan
LONDON--Building materials company CRH PLC (CRG.DB) Thursday
said it benefited from positive momentum in the Americas and
acquisitions as it posted a big jump in profit.
Net profit for the six months ended June 30 rose to 279 million
euros ($316 million) from EUR47 million a year earlier as revenue
climbed to EUR12.7 billion from EUR9.4 billion.
The interim dividend rose 1.6% to 18.8 euro cents.
"With the benefit of favourable weather patterns, our Americas
operations started the year well and construction market activity
outpaced overall economic growth," the company said.
CRH said its closely watched measure of reported earnings before
interest, taxes, depreciation and amortization more than doubled to
EUR1.12 billion in the first half and predicted full-year reported
Ebitda will exceed EUR3 billion.
The impact of the U.K. voting to leave the EU remains unclear
for the medium term, the company said.
Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
(END) Dow Jones Newswires
August 25, 2016 02:40 ET (06:40 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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