Despite difficult trading conditions in the first two months of the year, CRH has reported in its interim management statement that conditions have improved in recent weeks. The company reported that on a like-for-like basis sales in January and February were down 23.5% on 2009 levels due to the poor weather conditions. Sales in March and April showed further declines but at 7% below the levels seen in the same period last year to give an overall decline of 14% for the first four months of the year. CRH has
Despite difficult trading conditions in the first two months of the year, CRH has reported in its interim management statement that conditions have improved in recent weeks.
The company reported that on a like-for-like basis sales in January and February were down 23.5% on 2009 levels due to the poor weather conditions. Sales in March and April showed further declines but at 7% below the levels seen in the same period last year to give an overall decline of 14% for the first four months of the year.
CRH has forecast that sales for the first half of the year will be down 10% on 2009.
In a statement, the company said, “Europe Materials, which was adversely affected by the exceptionally harsh conditions in the early months of 2010, has seen improvements over recent months. In Poland and Finland our cement volumes, which declined by approximately 40% and 10% respectively in January and February, were by end-April in line with 2009 levels.
“Our Swiss operations have continued to benefit from major tunnel projects which were unaffected by weather conditions, resulting in volumes ahead of 2009. In Portugal, domestic cement sales to date are approximately 8% lower than last year. While demand in Ireland and Ukraine has picked up somewhat in recent months construction activity continues to run well below 2009 levels.
“The sharp volume declines early in the year across the division have contributed to a generally more competitive pricing environment; however, our energy input costs on a per unit basis have remained similar to last year’s levels and we are benefiting from a higher level of alternative fuel usage across our cement operations.”
