CRH shaken by global downturn
The group, one of the world's biggest suppliers to builders, posted a 10 per cent drop in first-half pre-tax profit yesterday after warning last month of an end to years of uninterrupted earnings growth.
Chief executive Liam O'Mahony said: "Following 15 years of consecutive growth and a record performance in 2007, more difficult trading conditions and a weaker dollar will, as previously indicated, result in a lower outcome for 2008."
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Hide AdPre-tax profit for the first half to the end of June fell to 606 million (483m). CRH had said in July it expected a profit of around 600 million.
CRH said the key US market, particularly on the housing side, continued to be challenging.