CRH

CRH's turnover for the first nine months of the year has been given as 5% ahead of a year ago, which would suggest about €13,450m, with the EBITDA being in line with the €1200m achieved in that period last year. For the full year, the company is indicating and EBITDA in line with last year’s €1615m and an increase in the pre-tax profit before impairment charges of between 3% and 7.5% from the €658m achieved in 2010 and expecting an impairment charge “significantly lower” than last year's €124m, the 2011 pre-tax profit should be “well ahead” of last year's €534m. A pre-tax profit in excess of €600m looks to be on the cards, or an increase of at least 12.5%. Barring any major acquisitions, the year-end debt should be lower than the €3473m at the end of December last year. Acquisitions and development expenditure in the year to date amounts to some €450m.

In the heavy construction materials side, EBITDA outside the Americas is expected to be broadly in line with the €423m achieved last year, with lower contributions from Ireland, Spain and Portugal being offset by higher returns from Poland, Finland and Switzerland. The North American side is likely to be lower EBITDA than last year's €566m. Improved profits are being expected from both building products and distribution, with the European operations out-performing the Americas in 2011. The estimate of cost savings to be achieved this year has been increased by just over 10% since August to €150m, with the cost of implementing these remaining at about €36m, compared with €100m last year.