CRH has reported full year sales of €17.17billion for 2010, down just 1% from the previous year, although EBITDA has dropped 10% to €1.61billion for 2010. Nonetheless, CRH chief executive Myles Lee describes last three months of 2010 as a stabilisation. "Overall demand across the Group appears to have stabilised in the past three months and, assuming no major market dislocations, we believe that it is reasonable to look forward to like-for-like revenue growth for 2011 as a whole,.” He said.
CRH has reported full year sales of €17.17billion for 2010, down just 1% from the previous year, although EBITDA has dropped 10% to €1.61billion for 2010. Nonetheless, CRH chief executive Myles Lee describes last three months of 2010 as a stabilisation.
“Overall demand across the Group appears to have stabilised in the past three months and, assuming no major market dislocations, we believe that it is reasonable to look forward to like-for-like revenue growth for 2011 as a whole,.” He said.
“The level of price progress achieved in 2011 will be key to revenue growth and to the recovery of higher input costs. Acquisitions completed over the last eight months are expected to add to the group’s performance in 2011 and with a strong balance sheet we have the capacity, where we see value, to capitalise on a growing pipeline of opportunities.
“With significant adjustments to our cost and operational base over the past three difficult years, we look to a year of progress in 2011 and to stronger upward momentum thereafter.”
