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CRH raises guidance after profits jump 12% in second quarter
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CRH raises guidance after profits jump 12% in second quarter
Aug 8, 2024 12:36 AM

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.

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