CRH 3Q Comparable Sales Rise 3%; Expects Another Year of Progress

By Ian Walker Features Dow Jones Newswires

Irish cement maker CRH PLC (CRG.DB) said Tuesday that like-for-like group sales for the third quarter rose 3%, boosted by continued underlying growth in the Americas, although some operations were hit by adverse weather.

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CRH, which is in the final stages of buying U.S. peer Ash Grove Cement Company for $3.5 billion, added that it continues to expect another year of progress with earnings before interest, taxes, depreciation and amortization of more than 3.2 billion euros ($3.76 billion). This compares with EUR3.13 billion for 2016.

Group sales for the nine months as a whole were EUR20.7 million, an increase of 2% on the same period last year. Ebitda for the nine months was also 2% higher at EUR2.43 billion.

CRH announced in September its plans to buy Ash Grove, based in Overland Park, Kansas, and the deal was approved by the U.S. company's shareholders on Oct. 20. It remains subject to regulatory approval and is expected to close early 2018.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

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November 21, 2017 02:56 ET (07:56 GMT)