Menu
04/03/2010
Profits Slump At CRH
One of Ireland's biggest building companies has reported a 55% drop in pre-tax profits for 2009.
However, the results posted by building materials group, CRH were still ahead of many analyst expectations.
Profits for the year stood at €732m for the firm, compared to €1.6bn for 2008.
Revenues fell by 17% to €17.4bn, with CRH predicting that demand will remain weak for much of 2010.
Chief Executive Myles Lee remained resolute, however, and said: "The significant adjustments to our cost base achieved over the past three years and our ongoing restructuring measures, together with our substantial balance sheet capacity, have strengthened the Group operationally and position CRH well to respond to upside demand developments and to avail of value-enhancing acquisition opportunities as these arise across our markets."
CRH has businesses throughout Europe, North America and Asia. It accounts for around a third of the Dublin stock exchange.
(NS/BMcC)
However, the results posted by building materials group, CRH were still ahead of many analyst expectations.
Profits for the year stood at €732m for the firm, compared to €1.6bn for 2008.
Revenues fell by 17% to €17.4bn, with CRH predicting that demand will remain weak for much of 2010.
Chief Executive Myles Lee remained resolute, however, and said: "The significant adjustments to our cost base achieved over the past three years and our ongoing restructuring measures, together with our substantial balance sheet capacity, have strengthened the Group operationally and position CRH well to respond to upside demand developments and to avail of value-enhancing acquisition opportunities as these arise across our markets."
CRH has businesses throughout Europe, North America and Asia. It accounts for around a third of the Dublin stock exchange.
(NS/BMcC)
Related Irish News Stories
Click here for the latest headlines.
05 October 2009
Some 500 Bord Na Móna Jobs In Jeopardy
Some 500 Bord Na Móna workers are fearing for their jobs as news of extended closures to Offaly and Longford power stations emerged. It was confirmed today the two power stations in the midlands would be closed for prolonged periods during the next two years.
Some 500 Bord Na Móna Jobs In Jeopardy
Some 500 Bord Na Móna workers are fearing for their jobs as news of extended closures to Offaly and Longford power stations emerged. It was confirmed today the two power stations in the midlands would be closed for prolonged periods during the next two years.
03 September 2012
CRH To Cut 55 Posts
Building materials firm CRH is to axe 55 jobs at its Irish Cement plant in Limerick. The company said the restructuring follows five years of decline in the Irish construction industry, with activity down 80 per cent from a peak in 2007. It is believed the plan will be discussed with employees and unions over the coming days.
CRH To Cut 55 Posts
Building materials firm CRH is to axe 55 jobs at its Irish Cement plant in Limerick. The company said the restructuring follows five years of decline in the Irish construction industry, with activity down 80 per cent from a peak in 2007. It is believed the plan will be discussed with employees and unions over the coming days.
17 September 2007
CRH In Munti-Billion Euro Talks With Cemex
International buildings group CRH has announced that it is planning to buy assets from Mexican cement company Cemex. The deal, which has been valued at between $3.5 and $4.5 billion, could be one of the biggest ever in Irish corporate history. Assets currently under negotiation include those in Florida and Arizona, in the United States.
CRH In Munti-Billion Euro Talks With Cemex
International buildings group CRH has announced that it is planning to buy assets from Mexican cement company Cemex. The deal, which has been valued at between $3.5 and $4.5 billion, could be one of the biggest ever in Irish corporate history. Assets currently under negotiation include those in Florida and Arizona, in the United States.
07 November 2016
Half-Year Profits Increase 7% At Ryanair
Ryanair has announced a 7% increase in its half-year profits. In a report published today, the airline recorded a rise in H1 profits to €1,168 million, with AGB and lower fares delivering 12% traffic growth to 65 million customers. It also cited a 2% jump in load factor to 95%. In addition, average fares fell by 10% to €50.
Half-Year Profits Increase 7% At Ryanair
Ryanair has announced a 7% increase in its half-year profits. In a report published today, the airline recorded a rise in H1 profits to €1,168 million, with AGB and lower fares delivering 12% traffic growth to 65 million customers. It also cited a 2% jump in load factor to 95%. In addition, average fares fell by 10% to €50.
21 September 2007
West Link Toll Charge Set To Rise
Motorists using the M50 toll bridge on Dublin's West Link will have to pay an additional 10c from next year. The National Roads Authority announced that the toll will increase from €1.90 to €2 from January next year. Those with a registered debit account will be charged 2.
West Link Toll Charge Set To Rise
Motorists using the M50 toll bridge on Dublin's West Link will have to pay an additional 10c from next year. The National Roads Authority announced that the toll will increase from €1.90 to €2 from January next year. Those with a registered debit account will be charged 2.
-
Ireland WeatherToday:Storm Bert will move east through the Northern Isles today. Though weakening it will still bring strong to gale winds to many in Northern Ireland and showers to all, these frequent, occasionally heavy across northern districts. Maximum temperature 10 °C.Tonight:Strong west to northwest winds easing overnight. Showers, most frequent during the evening and in north but dwindling overnight to leave most dry and bright come dawn. Minimum temperature 1 °C.
