Cement News tagged under: Ireland

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Breedon trading exceeds expectations

21 December 2020, Published under Cement News

Breedon, a leading construction materials group in Great Britain and Ireland, today issued an update on recent trading. The Group’s recent trading update, published on 18 November 2020, noted continuation of positive trading into the fourth quarter. Since then, the company said performance has continued to exceed expectations across the group, with revenues in November ahead of the prior year, on a like-for-like basis. "This strong trading performance has continued into December, in part...

CRH posts 2% rise in EBITDA for 9M20

25 November 2020, Published under Cement News

CRH has reported a three per cent like-for-like (LfL) decrease in its sales to US$20.6bn for the nine-month period to the end of September 2020, maintaining the level of sales decline reported at the half-year stage. Despite the lower sales, EBITDA for the period was US$3.4bn, up two per cent on a LfL basis. This reflected a continued focus on cost rationalisation and mitigating actions to minimise the financial impacts of lower sales caused by the pandemic. The group reported US$65m of non...

CRH pays tribute to former CEO

19 November 2020, Published under Cement News

CRH has paid tribute to Jim Culliton, a former CEO of the company, who passed away on Monday. Mr Culliton was a significant figure within several important Irish companies during the second half of the twentieth century, including spending 13 years as CEO of CRH. He joined what was then known as Roadstone in 1950 and eventually led the merged Cement Roadstone Holdings (CRH) to a dominant position in the Irish market, also starting the international expansion that made the company a multin...

CRH's Group Finance Director to retire

01 October 2020, Published under Cement News

Senan Murphy intends to retire from his position as CRH's Group Finance Director during the course of 2021. The board is initiating a process to identify a successor and will make an announcement once the process is completed. Senan will continue in his role until a successor is identified and to ensure a smooth transition. He will remain as an adviser to the company post transition. Group Chief Executive, Albert Manifold said: "As Group Finance Director, Senan's experience and insights...

Quinn Industrial Holdings to change name to Mannok

28 September 2020, Published under Cement News

Quinn Industrial Holdings and the Quinn Building Products and Quinn Packaging  brands are rebranding to Mannok after tthe culmination of a five-year transformation programme and investment programme. "We are extremely pleased to unveil Mannok as our new brand identity, which we believe better reflects the ownership, evolution and future focus of our business. It marks a major milestone for us following a five-year transformation programme that has empowered our staff and repositioned our bu...

CRH revenues expected to recover in 3Q20

28 August 2020, Published under Cement News

Following the release of CRH's 2020 interim results last Friday, ICR now takes a deeper look at what the underlying trends have been for the company's trading performance during this challenging period. First-half sales for the group were five per cent behind, with like-for-like (LfL) sales three per cent behind the 1H20, as a positive performance in the first quarter was followed by significant disruption in the second quarter. EBITDA of US$1.59bn down when compared with 2019 (1H19: US$1.6...

CRH sees EBITDA rise 2% in the 1H20

21 August 2020, Published under Cement News

CRH has released its unaudited results for the first half of 2020, showing a 4.9 per cent YoY decline in revenue to US$12.2bn from US$12.85bn in the 1H19. However, EBITDA edged up two per cent on a like-for-like (LfL) basis to US$1.59bn. Profit before tax for the 1H20 reached US$518m against US$717m last year, primarily reflecting a lower profit on divestments. "As a Group we took swift and comprehensive action in response to the COVID-19 crisis, and our ability to flex our cost base and ...

Breedon Group closes operations in Ireland

01 April 2020, Published under Cement News

Breedon Group has announced the temporary closure of its plants in the Republic of Ireland, including its Kinnegad cement plant, with the exception of those serving health projects or critical road and utility infrastructure. The closure is in addition to other measures announced last week and follows the Irish government introducing restrictions on non-essential businesses from 27 March. "Our priority remains the health and wellbeing of our colleagues, subcontractors, customers and co...

Breedon announces COVID-19 mitigation measures

27 March 2020, Published under Cement News

Breedon Group, based in Great Britain and Ireland, has announced a series of measures that it will undertake to mitigate the impact of COVID-19. "In light of recent government measures, and to ensure the safety and wellbeing of our colleagues, subcontractors, customers and communities, we have decided temporarily to suspend production at our UK sites, with the exception of our Hope cement plant and those of our operations which serve critical supply needs. During the course of this week we ...

Cevian Capital increases stake in CRH

20 March 2020, Published under Cement News

Cevian Capital, Europe’s largest activist investor, has increased its stake in CRH to above three per cent for the first time. "As a long-term investor, we are pleased to be able to increase our ownership and commitment to CRH at a share price that is well below our view of the value of the group's assets," said Cevian Capital partner, Gustav Lundgren. "We remain convinced of CRH's potential and support the company's efforts to unlock value and enhance long-term competitiveness," he ad...