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| CRH announces results for 2008 Irish building materials giant CRH has delivered full-year profit before tax of euro 1,628 million, a decrease of 14% compared to the record result in 2007. There was a lower decrease in earnings per share which fell 11% to 233.1c (2007: 262.7c), as a result of the share buyback and a lower effective tax rate, 22.5% compared with 24.5% in 2007. Overall operating profit margin decreased to 8.8% (2007: 9.9%). Expenditure on acquisitions and investments during 2008 totalled euro 1 billion. Despite lower profitability, EBITDA/net interest cover remained high at 7.8 times for the year (2007: 9.4 times), above the Group's comfort range of 6 to 6.5 times. write your comments about the article :: © 2009 Construction News :: home page |