CRH says sales growth slows

Joseph Millis
Building materials company CRH yesterday said its operating earnings and like-for-like sales grew in the third quarter, although at a slower pace than in the first half, as growing demand in the US offset moderating markets in Europe.

It also reiterated its forecast for earnings growth of about 10 per cent in the whole of 2014.

In a statement, the company said like-for-like sales, which exclude acquisitions and disposals and currency movements, grew three per cent in the third quarter.

Its like-for-like sales had grown five per cent in the first half of the year.

Total sales for the first nine months of the year rose to €14bn (£11bn), from €13.4bn in the first nine months of 2013, while earnings before interest, tax, depreciation and amortisation (Ebitda) was €1.2bn, up from €1.06bn.