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BUILDING MATERIALS GROUP CRH has reported an increase in pre-tax profits of 280 per cent for the first half of 2011 – but says it’ll fall short of market expectations to grow its profit by 1 1per cent this year.
Results posted this morning showed that CRH – originally Cement Roadstone Holdings – had recorded a pre-tax profit of €95m for the first six months of this year, compared to a similar profit of €25m for the same period of last year.
The company’s overall revenue was also up, by 7 per cent, from €7.658 billion to €8.166 billion.
But the company warned that the recent turbulence on stock markets had added extra uncertainty to its general outlook – and said that the expectations of analysts would not be met.
“I’d be cautious and think you’d have to pull back on that,” chief operating officer Albert Manifold told Reuters.
“I think it’d be too much to hope for to get a full 10 per cent growth in the current year, given the background and climate that is there.”
He continued, however, that expectations for growth in the US – where CRH, one of Ireland’s most valuable companies, does much of its trade – remained static.
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How much of these profits will CRH use to compensate those small businesses it has systematically and criminally crippled through the operation of a wholly illegal price fixing cartel in Ireland. There continual flouting of competition law in this country to the detriment of the consumer is an absolute disgrace.
“Results posted this morning showed that CRH – originally Cement Roadstone Holdings – had recorded a pre-tax profit of €95m for the first six months of this year, compared to a similar profit of €25m for the same period of last year.”
What does
“…€95m for the first six months of this year, compared to a similar profit of €25m for the same period of last year.”
How is it “a similar profit”?
That phrase seems utterly misleading and superfluous in the context of the sentence.
Michael – it’s ‘similar’ in that it’s also a pre-tax figure, as opposed to the after-tax figure that companies often like to substitute.
*their
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