StockMarketWire.com - CRH said it would continue its share buyback programme after the building materials group saw profits jump in the first half of the year, led by good performance in its heritage business and strong contributions from recent acquisitions.

'We are pleased to report that the Board plans to continue our share buyback programme with a further tranche of €350 million to be completed by year end,' the company said.

For the six months ended 30 June, pre-tax profit jumped to €707m from €497m a year earlier and revenue increased 11% to €13.22bn.

Earnings (EBITDA) climbed 36% to €1.54bn.

Looking ahead, the company said it anticipated further progress in the second half of the year with benefits from positive underlying momentum in all divisions as well as good contributions from acquisitions.

The company also touted improved year-on-year performance in its Americas material division, with second-half earnings (EBITDA) expected to be ahead of 2018.

'In Europe Materials, we expect broadly similar trends to those experienced in the first half, with second-half EBITDA ahead of 2018 amid a challenging environment in the UK. In Building Products, EBITDA is anticipated to show further growth against a positive backdrop in Europe and North America, it added.




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