Dow Jones Newswires: CRH reports sales rise thanks to resilient demand

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CRH PLC said Tuesday that sales rose on year for the first nine months of 2022 as it experienced resilient underlying demand, strong pricing and continued delivery from its integrated solution strategy.

The Irish building-materials supplier CRH, -0.20% CRG, -0.87% said sales for the nine months ended Sept. 30 rose 13% on year to $24.4 billion, driven by a particularly strong performance in its Americas Materials division and Building Products division but slightly offset by a softer performance in Europe Materials.

Earnings before interest, taxes, depreciation and amortization for the period came to $4.2 billion, 14% ahead on year. The Ebitda margin was 17.1%.

Looking ahead to 2023, despite the uncertain economic environment, CRH said it was well positioned in its core markets of North America and Europe to continue to deliver shareholder value.

The company backed its expectations for full-year Ebitda of $5.5 billion, Chief Executive Officer Albert Manifold said. Full-year pretax profit is expected to be ahead of 2021, when it reported a pretax profit of $3.1 billion, the company said.

Write to Joe Hoppe at joseph.hoppe@wsj.com

This article was originally published by Marketwatch.com. Read the original article here.

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