CRH said today it expected its pre-tax profits for the six months to the end of June to be up by €100 million year-on-year to reach around €261 million.
CRH said trade had continued well through May and June following a positive start to the year and that acquisitions made last year were contributing well.
It said that although its Irish operations had been satisfactory this year, prices had failed to compensate fully for cost increases. "As a result, while first half operating profits (in Ireland) will be similar to 2003 levels, margins are likely to show a modest decline," it said.
British operations would show a slight increase in first half profits while trade in mainland Europe would be significantly better than in the same period last year.
In the United States, CRH said it expected full year pre-tax profit to show a healthy advance on the 2003 level of €864 million .
CRH also said that in the first half of the year, it had spent about €700 million on acquisitions and investments. The company is due to announce its first half results on August 31st.