CRH Nine-Month Sales Rose on Year on Underlying Demand, Pricing Progress

By Kyle Morris

CRH PLC said Tuesday that sales rose on year for the first nine months of 2021 as it experienced good underlying demand and continued pricing progress across key markets.

The Irish building-materials supplier said sales for the nine months ended Sept. 30 rose 11% on year to $22.8 billion and were 7% ahead on a like-for-like basis.

Earnings before interest, taxes, depreciation and amortization for the period came to $3.9 billion, 15% ahead on year. The Ebitda margin was 17.1%.

First-half growth moderated in the third quarter due to strong prior-year comparatives, CRH said. Third-quarter sales were though ahead of the prior year across all divisions, it noted.

CRH said it has spent $1.4 billion in the year to date on acquisitions and that it has a strong pipeline.

The company expects to post full-year Ebitda in excess of $5.25 billion, Chief Executive Officer Albert Manifold said. Full-year pretax profit is expected to be well ahead of 2020, the company said.

Write to Kyle Morris at [e-mail]

(END) Dow Jones Newswires

November 23, 2021 02:32 ET (07:32 GMT)

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