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| CRH posts 19% profit increase CRH, the world’s second-largest building materials and distributions group, has delivered another very strong performance in 2007 with full year profit before tax of euro 1,904 million, a 19% increase on 2006 (euro 1,602 million). Earnings per share increased 17% to 262.7c (2006: 224.3c). This represents CRH's 15th consecutive year of profit and earnings growth. Expenditure on acquisitions and investments during 2007 totalled a record euro 2.2 billion. Nevertheless, EBITDA/net interest cover remained high at 9.4 times for the year (2006: 9.7 times), well above the Group's comfort level of approximately 6 times. The proposed 31% total dividend increase for 2007 makes this the 24th consecutive year of dividend growth, and follows a 33% increase in 2006 reflecting the phased adjustment in dividend cover from 4.8 times in 2005 to a target of 3.5 times for 2008. write your comments about the article :: © 2008 Construction News :: home page |