CRH sees profit topping forecast on higher prices, infrastructure demand
24/08/2023 12:42
DUBLIN, Aug 24 (Reuters) - CRH CRH.L , the largest
building materials producer in the United States and Europe,
expects its full year core profit to increase by a larger than
expected 11% due to higher prices and robust demand for
infrastructure and non-residential projects.
The Dublin-based group, which makes about 75% of its profits
in the U.S., expects full-year earnings before interest, tax,
depreciation and amortisation (EBITDA) of $6.2 billion versus
the $5.9 billion expected by analysts polled by Refinitiv.
CRH reported a 14% increase in first half EBITDA to $2.5
billion on Thursday, with profits up in all its divisions apart
from Europe Building Solutions, which was down 15% year-on-year
due to extended poor weather and new build residential weakness.
(Reporting by Padraic Halpin
Editing by Mark Potter)
((padraic.halpin@thomsonreuters.com; +353 1 500 1504; Reuters
Messaging: padraic.halpin.thomsonreuters.com@reuters.net))