Acquisitions help CRH to record year
CRH has produced record sales and profits figures for the year ending December 31, 2005, due to strong underlying organic growth and good incremental contributions from acquisitions, the company says.
Total operating profit from European operations improved 7% to €676m.
In the Europe Materials division, operating profit improved 18% to €377m, reflecting a full-year share of profit from Secil (acquired in June 2004) in Portugal.
Europe Products was affected by generally subdued trading and a sharp decline in results from insulation activities. Operating profit fell 8% to €176m.
Operating profit of €123m from Europe Distribution was just ahead of the 2004 figure, against a background of subdued Dutch retail demand and poor weather early in the year.
Total operating profit for American operations increased by 22% to €716m.
With continuing strong US residential construction and ongoing recovery in non-residential construction, Americas Products delivered a 23% increase in operating profit to €308m.
Total dividend has been increased by 18.2%, making 2005 the 22nd consecutive year of dividend increase. This follows a 17.4% increase in 2004.
Total development activity amounted to €1.45bn.
