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CRH 3Q18 update shows continued earnings growth

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World Cement,

CRH reported earnings up 4% in 3Q17 and 2% for the first nine months of the year in its latest trading update. Year-to-date earnings stood at €2.43 billion on sales of €20.7 billion.

In Europe, the company reported positive momentum with sales up 2% in the first nine months of the year and earnings up 3%. The company added that it expected similar momentum in the final quarter with full-year earnings for Europe to be up around 4% on the €1.1 billion reported in 2016.

CRH’s Americas business continued to benefit from “the continuation of stable market fundamentals in the US and good underlying demand,” despite the impact of unfavourable weather conditions. Full-year earnings are expected to end 5% ahead of the €1.9 billion reported in 2016.

Asia proved more challenging, however, particularly in the Philippines, where like-for-like sales were 9% behind last year, despite a slight improvement in 3Q17. Like-for-like earnings were 45% behind 2016, “due to lower selling prices combined with higher fuel and power costs” – trends that are expected to continue for the remainder of the year.

Overall, the company expects earnings to hit more than €3.2 billion, up from €3.13 billion in 2016, including European earnings of more than €1.2 billion and Americas earnings around €2 billion.

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