Cold weather hits CRH sales
Published: 06 May, 2010
DUBLIN: Sales at building supplies group CRH fell 23.5% during the first two months of the year due to the exceptionally harsh winter weather conditions, the company said yesterday.
In a trading statement ahead the AGM, the company said more normal seasonal weather patterns in March and April together with a rebound from the "very depressed activity levels" of previous months saw a combined like-for-like sales decline of 7% for these months.
This resulted in a reduction of approximately 14% for the first four months of the year, it said.
The company said it anticipated that the cumulative sales decline would continue to moderate, predicting sales for the first half of 2010 would be approximately 10% below first half 2009.
It said it expected earnings "in the seasonally more important second half" of the year to be ahead of last year's figures of €1.15b.
"While demand in Ireland has picked up somewhat in recent months construction activity continues to run well below 2009 levels," it added.