Interim results show continued profit growth despite first-quarter weather disruption
CRH have reported continued profit growth in the first half of 2018, despite first-quarter weather disruption and currency headwinds.
In the six months to 30 June, pre-tax profit was up 5% to €497 million (H1 2017: €475 million), on turnover that was up 1% at €11.9 billion (H1 2017: €11.85 billion). EBITDA of €1.13 billion in the first half of 2018 was 1% ahead of 2017 (€1.12 billion), while EBITDA margin of 9.5% remained the same as the first half of 2017.
CRH chief executive Albert Manifold said: ‘We have had a good first half despite significant weather disruption in Europe and North America in the first quarter. Construction markets continued to recover and pricing gathered momentum in key European markets, while there was solid volume and price growth against a positive economic backdrop in the Americas.
‘For the second half of the year, despite continuing currency headwinds and challenging conditions in the Philippines, we expect an improvement in the momentum experienced in Europe in the first half of the year and further EBITDA growth in the Americas, which will result in another year of progress for the Group.’