StockMarketWire.com - Construction company CRH said it expected to deliver record performance for the full year, with core earnings expected to be well ahead of the prior year following growth in the nine months through November.

Cumulative nine-month sales to the end of September amounted to $22.8 billion, an increase of 11% compared with the corresponding period in 2020 and 7% ahead on a like-for-like basis.

Earnings before interest, taxes, depreciation, and amortisation, or EBITDA, for the period was $3.9 billion, 15% ahead of the prior year and 11% ahead on a like-for-like basis, reflecting 'strong volume growth and a continued focus on price improvements and cost rationalisation to offset input cost inflation,' the company said.

First-half growth, however, moderated in the third quarter as easing pandemic related restrictions in the third quarter of 2020 resulted in a 'strong' prior year comparative, it added.

Looking ahead to the remainder of the year, the company said it expected to deliver 'another record performance for the group, with full-year EBITDA in excess of $5.25 billion.'




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