CRH like-for-like sales ahead

Building materials group CRH said it expects like-for-like sales for the first half of 2011 to be ahead of 2010, with earnings…

Building materials group CRH said it expects like-for-like sales for the first half of 2011 to be ahead of 2010, with earnings before interest, tax, depreciation and amortisation (Ebitda) for the period also expected to exceed last year's level.

In an interim management statement issued in advance of the group's AGM, which is to be held this morning, CRH said like-for-like sales for the first four months of the year were 6 per cent higher than for the same period last year.

The group said its materials operations in Ireland, Portugal and Spain continued to face challenging conditions. It said that construction activity in other more stable markets such as Switzerland and Finland was better while in Poland and other eastern European markets demand was picking up well.

Overall, cumulative like-for-like European sales are up 4 per cent in the first four months of 2011 compared to the same period a year earlier.

READ MORE

It added that its products segment was 12 per cent ahead of 2010 while its distribution businesses were 7 per cent ahead.

European operations overall have seen a cumulative like-for-like sales increase of 8 per cent, the group said.

CRH said its American operations are 3 per cent ahead of last year.

In its American Materials businesses, there has been a 1 per cent rise in asphalt volume sales while volumes of aggregates and readymixed concrete were in line with last year.

It added that its Americas products operations showed a 3 per cent sales increase for the first four months of 2011 while its distribution businesses were up by 13 per cent at the end of April 2011.

CRH is due to announce its interim results for the six months ending 30th June on Tuesday 16th August 2011.

Charlie Taylor

Charlie Taylor

Charlie Taylor is a former Irish Times business journalist