Eurozone set to stunt CRH profit

City A.M. Reporter
IRELAND-based building materials group CRH said yesterday it expects the Eurozone’s economic problems to deepen a slide in sales in the second half of 2012, preventing it from raising profits despite a recovery of US construction markets.

The company, which moved its primary listing to London last year, said European sales had fallen five per cent this year.

Earnings before interest, taxes, depreciation and amortisation fell one per cent to €568m (£446.4m). First-half results were propped up by favourable weather conditions and improving construction markets in the US, said CRH.