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Interim Results

CRH's earnings

25 August 2016 07:25

CRH's reported sales increased 35% to €12.7 billion in the six months to the end of June and reported EBITDA more than doubled to €1.12 billion.

Proforma sales were up 8%; up 3% in Europe, up 13% in the Americas and up 4% in Asia and proforma EBITDA increased 20%; up 5% in Europe, up 39% in the Americas and up 7% in Asia. Proforma EBITDA margin 9.0% (proforma H1 2015: 8.1%). The interim dividend per share is increased 1.6% to 18.8c.

Chief executive Albert Manifold said: "We have had a very satisfactory first half, with good performance from our heritage businesses and contributions from 2015 acquisitions delivering significant profit growth for CRH. As always, we have maintained a strong focus on cash management, and with de-leveraging ahead of plan, I am pleased to report that we expect year-end debt metrics to be at, or below, normalised levels. Against this backdrop, the Board has decided to increase the interim dividend by 1.6% to 18.8c per share. With continued positive momentum in the Americas and the modest impact of early-stage economic recovery in Europe, and assuming normal weather conditions for the remainder of the season, we expect further progress in the second half with full year reported EBITDA in excess of €3 billion."

Story provided by StockMarketWire.com

Related Company: CRH

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