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April 28, 2021, 2:27 a.m. EDT

CRH upbeat on Ebitda as like-for-like sales rise

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By Anthony O. Goriainoff

CRH PLC said Wednesday that like-for-like sales in the first quarter rose 3% and that it expects Ebitda for the first half to be ahead of last year.

The London-listed Irish building-materials supplier said that it has had a positive start to the year and that the strong performance in Building Products in the period was partly offset by weather disruption in its materials businesses in Europe and North America.

Earnings before interest, taxes, depreciation and amortization for the first half are expected to be ahead of the $1.59 billion reported for the first half of 2020.

The company said that it has seen good underlying demand and continued pricing progress across key markets during the quarter, and that it has a strong pipeline of acquisition opportunities.

"We anticipate further normalization in our markets in the second half of the year as the health situation continues to improve. Given the resilience of our business model and strength of our balance sheet we remain well positioned to benefit from the growth opportunities that lie ahead," the company said.

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