CRH hammered by building trade slump

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The Irish group, which owns Britain's largest brickmaker Ibstock, expects to make pre-tax profits of just over 1.6 billion (£1.47 billion) in 2008, down from 1.904 billion a year earlier.

For the first six months of its financial year, pre-tax profits sank 10% to 606 million.

The company forecasts a double-digit percentage decline in the second half of the year from last year's 1.234 billion.

While business has picked up in Europe thanks to strong growth in Poland and Ukraine, CRH said this had been more than offset by a sharp drop in trade at its US arm, as demand for new housing continues to fall.

The dollar's fall against the euro had also taken a chunk out of profits.

Chief executive Myles Lee admitted today that the outlook for trading in 2009 remained "challenging".

The gloomy update came as the group announced 16 acquisitions at a cost of 273 million.