CRH expects full-year earnings in 2018 to reach 3.35 billion euros, up from 6% last year.
In the latest trade update, the construction materials company posted a year-on-year increase of 8% in profits before interest, taxes, depreciation and amortization and rose to € 2.5 billion in the first nine months of the year. Increased demand in European operations and Asia. It is active in China, India and the Philippines.
Increased volumes and prices, and the strong demand in the second market, where CRH has had difficulty for some time, raised similar sales by 3% to nine months.
The increase in the state spending in the Philippines has also helped.
”As we look forward to 2019, we expect significant market fundamentals to continue in our major markets,“ he said.
CRH said the strategic review of the European distribution business, which saw an increase of 1% in sales in the first nine months of the year, but led to a 4% decrease in earnings, continued.
The plan, which was previously announced, is that the plan to produce a financial capacity of € 7 billion by 2021 will be "planned as planned" and that there will be signs of early delivery expected next year.
M As part of this growth plan, we've set structural cost savings of around € 100 million – in particular in overhead reduction, back office rationalization and consolidation of specific regional support functions into centralized and more coordinated hubs.
The CRH also said it has moved to the third stage of its 1 billion-euro purchase plan and will spend another 100m euros by the end of December.