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| CRH posts first-half profit drop Irish building giant CRH posted a sharp drop in first-half pretax profit, as expected. While the rate of decline in the second quarter eased substantially compared with the first three months of the year, EBITDA for the half year fell by €453 million (-41%) to €651 million in line with the guidance set out in our Interim Trading Statement in early July. Operating profit declined by two-thirds, a higher decline than at EBITDA level due to the fact that depreciation and amortisation charges for the half year at €410 million were broadly in line with last year (2008: €392 million). Profit before tax amounted to €108 million after restructuring costs of €74 million and an adverse translation impact at profit before tax level of €21 million. This compares with a first-half 2008 profit before tax of €606 million. Earnings per share fell 84% to 12.2 cent. write your comments about the article :: © 2009 Construction News :: home page |