CRH's year of growth

Irish building materials group 723 CRH's positive development in turnover and results from the first half of 2011 continued throughout the year, says the group's annual report.

Following a 7% turnover increase in the first six months, turnover increased by 4% between July and December and by 5% over the entire year to €18.081 billion.

According to CRH, the exceptionally good weather conditions and consequently higher sales in the first and fourth quarters of 2011, as well as the average increase of 2% in sales prices for the products sold by the group, were the reason for the improvement by comparison with 2010.

The results of the group increased even more significantly than the turnover last year with a rise of 25% to €871 million in the operating result and of 36% to €597 million in the net result.

Summarising the outlook for 2012, the directors say: "Assuming no major economic or energy market dislocations, we expect to generate further like-for-like revenue growth in 2012 with the
achievement of targeted price increases a key priority.

"This combined with benefits from acquisitions completed in 2011 leads us to expect further progress in the year ahead."