In a recent statement, CRH announced a significant increase in pretax profit, attributing it to robust demand in key markets, favorable pricing, and contributions from acquisitions. The Irish building-materials supplier reported a pretax profit of $4.01 billion in 2023, marking a notable increase from $3.46 billion the previous year. Revenue also saw a healthy growth, reaching $34.95 billion compared to $32.72 billion.
Financial Performance and Dividend Policy
Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 15% to $6.2 billion, showcasing the company's strong financial performance. CRH declared a full-year dividend of $1.33, up from $1.27 in the previous year. Moreover, the company announced a shift to quarterly dividends, with a 35 cent payment scheduled for April. Additionally, CRH revealed its plan to repurchase shares worth approximately $300 million.
Future Outlook
Looking ahead, CRH remains optimistic about the market environment in 2024. The company foresees a favorable backdrop and continued positive pricing momentum driven by substantial infrastructure investments and re-industrialization activities in North America and Europe.
Overall, CRH's latest financial results demonstrate its resilience and growth trajectory in the face of market challenges.
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