Irish construction group CRH reported operating profit in 2002 of €1,048 million, an increase of 3 per cent on the previous year.
CRH said construction in Ireland gained momentum in the second half of the year, following a sharp decline during the first six months, and finished 4 per cent down on 2001.
Against this background, operating profit in the Republic dropped by 2 per cent to €131 million.
Results for the Americas operations were ahead in dollar terms but were adversely affected by a 5 per cent weakening of the US dollar versus the euro.
Commenting on the results, Mr Liam O'Mahony, chief executive, said trading conditions are likely to remain difficult in most markets for now.
The board of CRH is recommending a final net dividend of 17.97 cent net per share, an increase of 11 per cent on the 2001 final dividend.