Building materials group CRH announced a 16 per cent rise in 2001 pre-tax profits today and said it expected solid growth this year.
Pre-tax profit before goodwill was €862 million, largely buoyed by a resilient US market, beneficial currency movements and the disposal of assets.
Underlying pre-tax profit was down €25 million in continental Europe, flat in Ireland, rose slightly in Britain and was up €10 million in the United States.
Chief executive Mr Liam O'Mahony said in a statement he expected CRH to continue to improve its performance in 2002 despite a tough environment.
The group spent over €1 billion on bolt-on acquisitions in 2001, and Mr Sheridan said this activity would continue in 2002 with purchases spread between the United States and Europe.
CRH said it was recommending a final dividend of 16.25 euro cents per share, resulting in a total net dividend for the year of 23 cents per share, a rise of 11 per cent. Earnings per share rose 3 per cent to 127.05 cents.
