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CRH Plc FY20 Profit Down, Lifts Dividend; Says Near-term Outlook Uncertain

Building materials group CRH Plc (CRH,CRH.L) reported Thursday that its fiscal 2020 profit before tax declined to $1.66 billion from last year's $2.18 billion.

Earnings per ordinary share were 141.8 cents, down from 212.6 cents last year.

Adjusted profit after tax was $2.0 billion, compared to $1.7 billion a year ago. Adjusted earnings per share were 243.3 cents, compared to 203.8 cents last year.

EBITDA of $4.6 billion was 3 percent ahead of 2019. EBITDA was 5 percent ahead on a like-for-like basis.

CRH delivered overall sales of $27.59 billion, 2 percent lower than last year's $28.1 billion.

Further, the company is recommending a final dividend of 93.0c per share, resulting in a total dividend of 115.0c for 2020, an increase of 25 percent on 2019.

The company also intends to recommence its share buyback programme following a pause in response to high levels of market volatility in 2020, with a further tranche of up to $0.3 billion to be completed by the end of June 2021.

Looking ahead, Albert Manifold, Chief Executive, said, "Although the near-term outlook remains uncertain, our unique portfolio of businesses together with the strength of our balance sheet leaves us well positioned to capitalise on the growth opportunities that lie ahead."

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