CRH earnings grow despite bad weather as constructions markets bounce back
Building materials company CRH has seen earnings rise despite severe weather conditions as the construction market bounces back.
The world's second largest construction supplier reported sales of €11.9bn in the first half of 2018 – one per cent up on the same period last year- its underlying earnings were also one per cent up at €1.1bn.
It said trading results were impacted by “severe and prolonged winter weather conditions” early in the year but boosted by the European construction market's continued recovery.
Asia continued to pose problems for the FTSE 100 construction giant due to challenging market conditions in the Philippines, where its Asian division is based.
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."