Dublin-based building materials giant CRH has stuck to its €3 billion-plus earnings forecast for the year, as it reveals its third quarter benefitted from continued growth in the Americas.
Sales at the group jumped 22% to €20.4bn for the year to September. Removing the impact of a major acquisition this year, there was a 6% rise in like-for-like sales.
While success in the Americas contributed to a strong third quarter to September, CRH said that growth in the area moved a more pace than in the first half of the year.
As much as 60% of its revenues are generated across the Atlantic, and a significant portion of that comes from the construction of the roads and bridges that US President-elect Donald Trump feels the US drastically needs to upgrade. CRH is the largest producer of asphalt and third-largest producer of construction aggregates (coarse materials such as gravel, sand and slag) in the US, Trump's election caused CRH shares to soar to a nine-year high.
Its €3bn guidance for earnings before interest, taxes, depreciation and amoritsation (EBITDA) represents a 35% increase on last year's €2.22bn.
It expects its European EBITDA for the year to be in excess of €1bn.
Preliminary full-year results will be published next March.