CRH plc has announced that its Group revenues for the first two months of 2011 have improved on last year’s level, due to a more favourable weather backdrop than in 2010. Although this cumulative early sales trend has moderated through March and April, like-for-like sales for the four months to end-April were 6% ahead of last year. The company currently expects like-for-like sales for H1 2011 to be ahead of 2010, with EBITDA for the period also expected to exceed last year’s level.
A statement released on the Group’s website indicated that a total of 13 acquisitions and investments have been completed to date at a total cost of approximately €135 million. CRH also confirmed that during 2010 it had reached agreements to sell a number of its activities, with the total proceeds of these transactions amounting to approximately €275 million.
The Group states that it remains on track to deliver total incremental gross savings of €136 million in 2011, with related costs to implement for the year estimated at €36 million.