Irish building materials group CRH posted a better-than-expected 27 per cent rise in first-half profit today and predicted strong growth for the full year.
Pretax profit at CRH was €670 million compared to €526 million in the first half of 2006.
CRH had said in a trading statement on July 2nd that it expected to post a rise of about 25 per cent after Europe's growing economies and favourable weather in the region helped offset weakness in the American house building sector.
Revenues in the six months to the end of June rose 21 per cent to €9.698 billion.
CRH said it expected to announce more acquisitions in the second half of 2007 and that it would look at buying British rival Tarmac, which miner Anglo American has put up for sale.
The company reported an increase in its European operations of €165 million to €495 million - an increase of 50 per cent.
Shares in the company were 2.3 per cent higher at €31.00 in London earlier this morning versus a flat overall market. Total earnings cash earnings per share grew by 22 per cent to 160.9 cent in the first half.