Enter multiple symbols separated by commas

CRH Expects Full-Year Profit to Rise

CRH, an Irish maker of construction materials, said Wednesday it expects full-year pretax profit to rise about 23% as recent acquisitions contribute for the first time and the company boosted sales at existing businesses.

Pretax profit for the 12 months ended Dec. 31 probably rose to about euro1.58 billion (US$2.09 billion) from euro1.28 billion in 2005, the company said in a trading statement.

"Against a background of higher input costs and declining U.S. residential construction, CRH has once again performed strongly in 2006 to deliver record full-year organic growth," the company said.

CRH will report full-year earnings on March 6.

The company has grown rapidly by buying competitors' operations in Europe and the United States, spending about euro2.1 billion on acquisitions last year. CRH said last August it had sufficient cash to pursue more acquisitions, chiefly in the euro200 million to euro400 million (US$250 million to US$500 million) range.

CRH shares dipped 0.8% to euro31.30 (US$41.48) in Dublin.

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

  • KLM landing

    A Dutch storm violently rocked a plane as it approached for a landing, narrowly avoiding a crash on the runway.

  • Treasure hunters have found a trove of 300-year-old gold coins off the coast of Florida worth more than $1 million, NBC affiliate WESH reported.

  • Donald Trump

    Trump himself gave one of the clearest examples yet of why his candidacy is doomed to fail, and why the debate stage could be his Waterloo.

U.S. Video

  • Opening Bell, July 28, 2015

    Shark Tank's Kevin O'Leary celebrates the recent launch of the O'Shares FTSE U.S. quality dividend ETF at the NYSE and Bed, Bath, & Beyond at the Nasdaq.

  • Looking ahead to Twitter's earnings report

    CNBC's Morgan Brennan and PCMag.com Editor-in-Chief Dan Costa discuss the main points that investors should be looking out for during Twitter's earnings call after the closing bell.

  • Cramer: Hats off to China

    CNBC's Jim Cramer weighs in on China's markets, Pfizer's earnings and UPS.