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Trading statements

CRH first quarter sales up

27 April 2016 09:58

CRH's sales for the first quarter increased by 9% compared with proforma 2015, largely driven by continued positive momentum in the Americas where the economic and business environment remains favourable.

With the benefit of very good weather in the early months of the year, activity in the typically low-volume first quarter was ahead and sales for the Americas were up 22% compared with Q1 2015 proforma. In Europe, the stabilising trends noted towards the end of 2015 continued across our main markets in the first quarter, albeit with regional variations, resulting in overall sales in line with proforma 2015. In Asia, with strong cement demand in the Philippines, sales were 12% ahead of the first quarter proforma 2015.

CRH expects first half EBITDA in Europe to be slightly up on proforma 2015 while in the Americas, with the benefit of a positive demand environment and the strong start to the year, EBITDA is expected to be well ahead. The Philippines is expected to be ahead due to continued good demand. As a result it expects total Group EBITDA for the seasonally less significant first half of the year to be close to €1 billion, representing mid-single digit percentage growth compared with proforma 2015.

Looking ahead to the second half of the year, in Europe it expects a broadly stable backdrop to support some improvement across our main markets. In the United States, it expects construction demand to continue to grow in the second half of the year at a modest pace.

At 9:58am: (LON:CRH) CRH PLC share price was +9p at 2020p

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