Construction giant CRH recommences $300m share buyback

Irish construction giant CRH said on Monday that it had recommenced its $300 million (€251.7 million) share buyback programme.

The purpose of the programme, which was halted last year in the face of pandemic-related uncertainty, is to reduce the share capital of CRH.

Société Générale has been appointed to conduct the buyback on CRH’s behalf, and will buy back up to $300 million in shares between now and June 24th.

Last week CRH announced its full-year results for 2020 which showed overall sales dipped by 2 per cent to $27.6 billion (€23 billion ).

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Earnings before interest, tax, depreciation and amortisation, however, rose 3 per cent to $4.6 billion as the company cut costs and moved to mitigate the financial impact of the pandemic.