CRH expects 'another year of progress' and earnings growth

In the nine months to 30 September, cumulative sales were up 2% compared to the corresponding period last year to €20.7bn, while earnings before interest, tax, depreciation and amortisation were up 2% to €2.43bn.

CRH said the third quarter benefited from continued underlying growth in the Americas, with stable market fundamentals in the US and good underlying demand, although some operations were hit by adverse weather and hurricane activity. This followed a first half also impacted by unfavourable weather conditions resulting in cumulative like-for-like sales up 2% compared with 2016,. EBITDA for the nine-month period improved by 4% against a backdrop of increasing input costs.

In Europe, momentum remained positive, while in Asia, very competitive market conditions continued.

The company said that with current momentum continuing for the rest of the year, it now expects full-year earnings to rise from €3.1bn in 2016 to in excess of €3.2bn. It expects full-year depreciation and amortisation expense to be broadly in line with last year's €1.1bn.