CRH this morning said it is to raise about euro 1.1 billion net of expenses via a 1-for-4 share issue at euro 10.50 cents per share.
It added trading since December 31st has been satisfactory and in line with expectations.
It expects improvements in 2001 from its existing businesses. Together with the full year impact of businesses acquired during 2000 it looks forward to continued progress in the year ahead.
In Ireland the outlook suggests further growth albeit at more moderate levels than in recent years, it said. UK activity is likely to remain relatively flat.
In its principal mainland European countries it sees reasonable growth in 2001, it added.
Although US markets look likely to slow somewhat from recent high levels it does not expect a major downturn. Investment in infrastructure should be underpinned by an increasing impetus from the strong US Federal highway funding.
The comments came as it posted a pre-tax profit pre-exceptionals and goodwill for year to December 31st of euro 740 million - up 25 per cent from previous, with a pre-tax profit of euro 696.7 million against euro 634.9 million.
Sales for the period were euro 8.87 billion against euro 6.73 billion. Earnings per share were 124.92 cents against 116.38.
A final dividend of 16.10 cents against 14.10 was declared, making a total for the year of 22.80 cents against 20.0.
AFP