Cement News tagged under: Ireland

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Irish Cement receives EPA approval for tyre burning

19 September 2019, Published under Cement News

Irish Cement has been granted a licence by the Environmental Protection Agency to burn tyres and other solid wastes as fuel at its Mungret facility, Limerick, Republic of Ireland. The company will use the EUR10m project to move away from fossil fuel use at the plant. The plans have been subject to protests by local groups in the area, with appeals against the decision to supply the licence open for a 28-day period. However, the company has noted that the burning of the new fuels will have ...

CRH CEO sells shares in company

09 September 2019, Published under Cement News

CRH Chief Executive Officer, Albert Manifold, has sold 102,621 shares at EUR29 each just below the 52-week high of EUR31, totalling EUR2.98m, reports the Financial Times. CRH recorded record cash profits in August 2019 at EUR1.54bn (GBP1.39bn) over 1H19, a 36 per cent rise on 1H18.

Breedon Group reports 18% revenue increase

26 July 2019, Published under Cement News

UK-based Breedon Group has reported an 18 per cent YoY rise in revenue to GBP447.4m for the first six months of 2019. Pretax profit advanced 30 per cent to GBP39.5m, compared to GBP30.4m in the 1H18. Ready-mix concrete volumes fell five per cent from 1.6Mm 3 to 1.5Mm 3 , but cement sales were up from 0.9Mt to 1Mt in the 1H19. The company also saw aggregate sales climb six per cent to 9.9Mt from 9.3Mt. "The period began well, with benign weather in the first quarter and generally healthy...

CRH divests its European Distribution business for EUR1.64bn

16 July 2019, Published under Cement News

CRH has agreed the divestment of its European Distribution business to private equity funds managed by Blackstone for an enterprise value of EUR1.64bn in cash, subject to regulatory approval. The divested business unit consists of CRH's entire general builders merchants business in Europe, including its sanitary heating and plumbing business that serve professional builders, contractors and DIY customers across six countries. In 2018 the business unit generated proforma EBITDA of EUR155m on...

CRH continues share buy-back

29 April 2019, Published under Cement News

CRH plans to repurchase EUR350m (US$390.6m) of ordinary shares between 29 April and 16 August 2019, according to a company statement. Under the terms of the buyback, ordinary shares will be repurchased on the London Stock Exchange and/or Euronext Dublin. CRH has entered into non-discretionary instructions with J&E Davy to conduct the transaction on its behalf and to make trading decisions under the buy-back independently of CRH in accordance with certain preset parameters. With the buy-ba...

Ecocem proposes capital restructure and dividend payment

25 March 2019, Published under Cement News

Irish cement producer Ecocem is preparing to pay out large dividends, reports the Irish Times. Shareholders at Ecocem are likely to recieve healthy dividends after the group proposed to restructure its capital to allow it pay a dividend of up to EUR5m. The directors said the proposed reduction in Ecocem's capital would create a distributable reserve "to allow for the prospect of the payment of dividends in future," as long as the company can afford it. At the end of December, the directors...

CRH announces board update

04 March 2019, Published under Cement News

CRH has announced that Don McGovern will step down from its Board of Directors on 25 April 2019, after serving two three-year terms. "On behalf of the board I would like to thank Don for his commitment to CRH over his six years on the board, and in particular for his service as senior independent director and as chairman of the remuneration committee. We wish him every success in the future," said Nicky Hartery, chairman of the company.

CRH sees 31% hike in group net profit in 2018

28 February 2019, Published under Cement News

CRH reported a six per cent increase in sales revenues to EUR26.79bn in 2018 from EUR25.22bn in 2017. The company’s EBITDA advanced seven per cent to EUR3.365bn in 2018 when compared with EUR3.146bn the previous year. Group net profit jumped 31 per cent to EUR2.521bn from EUR1.919bn in the year-ago period. The company attributes the robust results to strong financial discipline with EUR2.4bn  operating cash flows from continuing operations and a year-end net debt-EBITDA ratio of over 2.1 t...

Cevian Capital announces stake in CRH

06 February 2019, Published under Cement News

Europe's largest activist investor, Cevian Capital, has announced that it has built up a stake in CRH to become its second-biggest individual investor. "The group has many strong positions in attractive markets and we are convinced that CRH's assets could become significantly more valuable," Christer Gardell, managing partner of Cevian, disclosed to Reuters. The exact size of Cevian’s holding is unknown, however a stake of almost three per cent, worth around EUR600m, would be necessary t...

CRH completes third phase of share buyback

31 December 2018, Published under Cement News

CRH has completed the third phase of its share buyback  programme .  Between 27 November and 21 December 2018, 4.1m ordinary shares were repurchased on the London Stock Exchange, bringing total cash returned to shareholders under the ongoing EUR1bn share buyback  programme  to EUR800m.   The company also announced that it has entered into  arrangements with UBS AG, London Branch (“UBS”) to repurchase ordinary shares on CRH’s behalf for a maximum consideration of EUR...