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

  • Mark Cuban and Donald Trump

    Donald Trump appears to have Mark Cuban's vote, at least in terms of how the billionaire real estate mogul is conducting his political campaign.

  • Ferrari 488 Spider

    Ferrari's new 488 Spider will have a V-8 turbo engine and a retractable hard-top roof that lowers in just 14 seconds.

  • Members of the New Horizons science team react to seeing the spacecraft's last and sharpest image of Pluto before closest approach later in the day at the Johns Hopkins University Applied Physics Laboratory (APL) in Laurel, Maryland July 14, 2015.More than nine years after its launch, a U.S. spacecraft sailed past Pluto on Tuesday, capping a 3 billion mile (4.88 billion km) journey to the solar system's farthest reaches, NASA said.

    The New Horizons Pluto flyby mission set records for NASA's social media and web metrics——but why do we care so much?

U.S. Video