Building materials group CRH has reported a solid start to 2015 and said it expects earnings to increase by 10% in the first half of the year and improve for 2015 as a whole.
The company is preparing to complete a major acquisition that will turn it into the world's third-biggest building materials supplier.
It recently received competition clearance from European regulators which would allow its planned purchase of €6.5 billion of assets from rivals Lafarge and Holcim to proceed.
In an interim management statement today, CRH said that sales from continuing operations were up 2.5%.
It reported continued momentum in the Americas, with sales from continuing operations there up 8%.
While European sales fell by 2%, that was against a strong previous year in which unusually mild weather boosted activity.
CRH said the improving demand trends evident in late 2014 had continued into 2015.
The company said that favourable monetary policy and improving consumer sentiment should support European growth in the second half, historically its more profitable period, with group earnings from continuing operations expected to be ahead of last year.
It noted a continued recovery in its Irish market conditions, adding that it was well positioned to benefit from the modest growth.
The company said today it is expecting further progress in the second half of the year, with group EBITDA from continuing operations expected to be ahead of last year.
It said that favourable monetary policy and improving consumer sentiment should support European growth in the second half, historically its more profitable period, with group earnings from continuing operations expected to be ahead of last year.
CRH increased earnings for the first time in three years last year, when they rose 11% to €1.64 billion.
