CRH: decline is slowing

CRH: decline is slowing
Published: 07 July 2010

Building materials group CRH has said it expects to almost break even for the first half of this year, as a fall in its sales continued to ease.

In a trading update, CRH said it expected underlying sales for the first half to show a 10% drop compared with the same period last year, better than the 14% drop in reported in early May.

The company said it expected operating profit for the first six months to be around €240m, around half the figure in the same period last year. But it said pre-tax profit would be close to break-even, compared with a profit of €108m at the same time last year.

The financial performance has been helped by cost-cutting, lower restructuring charges and a €10m boost from currency movements.