DUBLIN, Aug 8 (Reuters) - CRH raised its
full-year guidance on Thursday after the largest building
materials producer in the United States and Europe reported a
12% rise in second quarter core profit.
The Dublin-based group said ti expects full-year adjusted
earnings before interest, tax, depreciation and amortisation
(EBITDA) of between $6.82 billion and $7.02 billion, up from the
$6.55 billion to $6.85 billion it forecast in February.
CRH, which makes about 75% of its profit in the U.S.,
boosted its profit margin by 270 basis points to 23.4% in the
second quarter, helping it to increase its adjusted earnings by
12% despite a 1% fall in revenue.
It said it expects to benefit from non-residential
investment and significant infrastructure activity in North
America throughout the rest of the year, and good underlying
demand for both categories in Europe.