CRH: good advance in North America

CRH's underlying sales in the first four months declined by around two per cent in Europe and increased by about eight per cent in the Americas during the first four months of the year. Some EUR45m was spent on acquisitions and investment during the first four months, while EUR540m was raised from divestments during the period. The group EBITDA in the first half expected to be around 10 per cent ahead of last year.

Europe
Heavy building materials volumes in Ireland continued to recover and the Dutch housebuilding market is showing signs of improvement. Cement shipments in Poland were lower than the very strong level seen last year and prices remain very competitive, but downstream volumes are ahead of last year, while in the Ukraine markets are resilient, with cement volumes below last year but prices ahead. Cement deliveries in Switzerland were lower, as was the case in Finland. Cementos Lemona in Spain is beginning to see a modest recovery. Like-for-like sales in the European lightside building eased by two per cent, with France being notably weak, while the distribution activities registered a one per cent decline. 

North America
The North America aggregates volumes increased by 11 per cent during the first four months while asphalt volumes were off by two per cent and ready-mixed concrete deliveries were in line with last year. The heavy materials turnover increased by five per cent.

In building products, turnover increased by 10 per cent with sales in the pre-cast business being particularly strong with a growth of 11 per cent, while architectural products showed a nine per cent advance, with the RMI segment showing better growth than new build. In distribution, the volume was ahead by eight per cent as a favourable early season allowed for increased repair, maintenance and improvement (RMI) activity.