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2001 results

05 March 2002

Sales - euro 10,444 m up 18%
Before goodwill amortisation After goodwill amortisation
Trading profit - euro 1,035 m up 11% 976 m up 10%
Profit before tax - euro 862 m up 16% 803 m up 15%
Earnings per share - cent 127.05 c up 3%* 115.32 c up 1%*
Cash earnings per share - cent 213.45 c up 5%*
Dividend per share - cent 23.00 c up 11%*

* Percentage changes in per share amounts are based on 2000 figures restated for the March 2001 Rights Issue.

  • Trading profit in the Republic of Ireland increased by 8% to euro 150.2 million, boosted by an increase of euro 11.4 million in profit on disposal of fixed assets. Underlying profits were in line with 2000.
  • Trading profit in Britain and Northern Ireland, which also benefited from increased profits on asset disposals, rose by almost 10% in 2001 to euro 61.5 million. Underlying profits were slightly ahead of 2000 with price and efficiency improvements offsetting the impact of volume declines in a weak housing market.
  • Overall results from Mainland Europe improved by 2% to euro 163.2 million in a year which saw mixed trading patterns. Excluding once-off rationalisation costs of euro 10 million and a euro 5 million loss on sale of fixed assets, profits increased by 13%, with the impact of current and prior year acquisitions more than offsetting declines in underlying operations.
  • Trading profit in the The Americas increased by 13% to euro 601.3 million. The benefits of lower energy and bitumen costs, contributions from current year acquisitions and favourable translation effects more than offset the impact of the first-time inclusion of the traditionally loss-making winter period for prior year acquisitions in the Materials Division and unforeseen market disruptions for the Precast Group.
  • Acquisition activity continued with euro 1.1 billion spent on over 50 acquisitions.

Liam O’Mahony, Chief Executive, said today:

“In a challenging environment across most markets, CRH made good progress in 2001 achieving record sales and profit levels. Although we expect the environment to remain challenging in 2002, our relentless emphasis on cost efficiency, overhead reduction and cash flow generation, together with continued success on the development front, should lead to a further year of progress for the Group.”

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