CRH to build up Euro7bn cash pile

Print this page

Ireland: CRH has said that is looking to build up a ‘cash pile’ of Euro7bn. It says it will use the funds for anything from acquisitions to share buybacks. Finance director Senan Murphy said the company was showing the market that it is ‘not just a one-trick pony that just does acquisitions.’ The money will be the cash left over after spending on capital expenditure, interest, tax and other payments.

"There are a number of options where that money can be deployed, and we will deploy it wherever it creates the most value for shareholders," said Murphy. "We can reinvest it in our business, we can invest it in acquisitions, we can continue on with buybacks or we can increase the level of dividends."

The company posted a 1% rise in revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) year-on-year in the first half of 2018. It expects EBITDA in the second half to be ahead of that seen in the second half of 2017.

Last modified on 29 August 2018

Register for the Global Cement Weekly email newsletter

Global Cement Weekly is Global Cement’s weekly email newsletter. Keep up to date with cement industry news, analysis, diary dates and news of people in the sector.

Register >

URL: https://globalcement.com/news/item/7980-crh-to-build-up-euro7bn-cash-pile

© 2024 Pro Global Media Ltd. All rights reserved.