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[July 2005]
Clay Products at CRH Show Steady Progress
CRH plc, the international building material group based Ireland, issued a trading update for the six months ended 30 June 2005 on 5 July 2005. The group numbers some major clay products manufacturers in its portfolio.
CRH reported that first half brick volumes at Ibstock Brick - the largest brickmaker in the UK - were below 2004 levels. However, further price improvements had been achieved to offset the impact of sharp energy cost increases.
The group's clay operations in mainland Europe benefitted from better pricing and productivity.
In the USA, CRH's Architectural Products saw good demand for construction, retail and hardscape products and further gains at its Glen-Gery brick operation, where better volumes and prices more than compensated for higher energy costs.
The official interim announcement will be made on 30 August 2005. CRH said it expects that profit before tax for the whole group for the first half 2005 will show a percentage increase in the high teens compared with 2004 (2004: 319 million on an IFRS basis). CRH said that it had been encouraged by results to date in achieving recovery of higher input costs and looked to further progress in this regard in the months ahead.
ENDS