CRH plc 2006 interim results - six months ended 30th June 2006
29 August 2006
|Year ended 31st December ||2006 |
|% change |
|Sales revenue ||8,028 ||6,329 ||+ 27% |
|Operating profit * ||613 ||445 ||+ 38% |
|Profit before tax ||526 ||383 ||+ 37% |
| ||euro cent ||euro cent || |
|Earnings per share ||73.7 ||56.0 ||+ 32% |
|Cash earnings per share ||131.7 ||105.4 ||+ 25% |
|Declared interim dvidend per share ||13.50 ||11.25 ||+ 20% |
* Operating profit before profit on disposal of fixed assets.
- CRH has delivered a strong overall first half outcome with an improved organic operating profit performance in each of its six business segments.
- Total first half development activity exceeded euro 0.8 billion. Year to date activity, including the recently announced euro 1 billion APAC transaction, amounts to almost euro 2 billion.
- Total operating profit from European operations, including acquisition contributions, grew by 19% to euro 330 million
- In Europe Materials, operating profit improved by 8% to euro 152 million helped by strong advances in Finland and Poland, modest improvement in Ireland and a similar outcome in Switzerland and Iberia.
- Operating profit from Europe Products grew 30% to euro 112 million with good incremental contributions from 2005 and 2006 acquisitions complemented by organic growth.
- Operating profit of euro 66 million from Europe Distribution was 33% ahead of 2005 with the bulk of the advance generated from underlying builders merchanting operations in Benelux, France and Switzerland.
- Total operating profit for the Americas operations increased by 68% to euro 283 million.
- Americas Materials' focus on the recovery of higher energy and input costs resulted in very good first half sales price increases and improved margins generating an operating profit of euro 35 million compared with a loss of euro 4 million in 2005.
- Americas Products delivered a 40% increase in operating profit to euro 202 million helped by generally favourable weather, good levels of housing activity and further improvement in non-residential construction demand.
- Strong incremental contributions from 2005 and 2006 acquisitions combined with organic growth resulted in a substantial 64% increase in Americas Distribution operating profit to euro 46 million.
- The declared interim dividend has been increased by 20%. This makes 2006 the 23rd consecutive year of dividend increase.
Liam O’Mahony, Chief Executive, said today:
“The current business outlook is on the whole positive despite some statistical evidence of a slower pace of US economic growth. CRH has had a particularly good start to the year; our ongoing focus on the recovery of higher input costs is showing good success and we have delivered record development activity over the past twelve months. While as always risks remain, especially in light of recent international developments, we expect good profit growth in the more significant second half and a healthy advance for 2006 as a whole."
Announced Tuesday, 29 th August 2006
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