Shares in building materials group CRH rose sharply in Dublin today after it said its third quarter trading benefited from continued positive momentum in the Americas, where overall economic recovery is driving construction demand.
However in its interim management statement CRH said that, as expected, the backdrop in Europe continues to be mixed but stable.
The company, which is now the world's third-biggest building materials supplier, noted that construction activity in Ireland continued to gather momentum.
CRH said that its third quarter group sales rose by 14%, with sales in the Americas up 23% while European sales edged 1% higher.
The company said that assuming normal weather conditions for the rest of the year, it expects its fourth quarter EBITDA to be ahead of the same time last year.
It also said its full year earnings, before interest on debt and accounting for depreciation of its assets, are expected to come in at €2.08 billion, more than 25% ahead of last year's result.
"With momentum continuing to be positive in the Americas, we reiterate our guidance that 2015 will be a year of growth," the company stated its today's trading update.
CRH also said that the recently purchased Lafarge/Holcim assets, which include businesses in Europe, Canada, Brazil and the Philippines, are performing in line with its expectations and are expected to contribute EBITDA of about €0.34 billion to its full year results.
Already the leading producer of asphalt and third largest supplier of construction aggregates in the US before the Lafarge/Holcim deal, CRH also added US glazing products manufacturer CR Laurence for $1.3 billion in September.
CRH embarked on its own disposal plan last year, one of the first steps Albert Manifold took as new CEO, and said today that €1.1 billion of the €1.5-2 billion worth of net assets identified for sale had been offloaded.
