CRH shares fall as its European market remains challenging

CRH

26/04/2023 08:57

** London-listed shares of Ireland-based building materials
company CRH plc  CRH.L  down as much 4% at 3,852p
    ** Stock among top loser in FTSE 100  .FTSE  index
    ** Co sees HY sales, earnings and margins to rise helped by
a strong start in the U.S, but flags tough European backdrop
    ** Also sees slowdown in the new-build residential sector in
Europe as inflationary pressures continued
    ** Sales in its QTRLY Europe materials solutions were up a
more modest 6%, while in Europe building solutions revenue fell
1% 
    ** However, sees sales, core profit for H1 2023 to be ahead
of H1 2022
    ** Group's qtrly like-for-like sales rose 5% vs yr-ago
period
    ** Including session gains, co's stock up 16% YTD
    

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com;))