CRH chief executive Don Godson was in fine form this week when he announced strong profits for 1995. Reporting a 38 per cent jump in profits and spending of £215 million on acquisitions and capital investment, he retaliated to a suggestion that the market was disappointed that CRH had not recorded a "big" acquisition.
The market might see big deals as "mannish" and the smaller bolt on deals done by CRH as "wimpy or sissy", he said. The proof that CRH's deals were right for the group was in the bottom line, he said. With a return to shareholders of just under 20 per cent a year over the last 20 years, CRH's strategy has certainly paid off.
On the 12p fall in the CRH share price the day the results were announced, Mr Godson said "Every time I open my mouth the share price seems to fall. Maybe they should pay me to stay at home." Modesty, perhaps, prevented him from mentioning that the shares had fallen back from an all time high of 542p.
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