CRH spends 0.6bn euros on investments in 2012

FTSE 100 building materials group CRH has said that full-year development activity in 2012 totalled over 0.6bn euros, helped by 18 acquisition and investment initiatives undertaken in the second half.

FTSE 100 building materials group CRH has said that full-year development activity in 2012 totalled over 0.6bn euros, helped by 18 acquisition and investment initiatives undertaken in the second half.

The company's Americas division made 12 purchases worth €256m in the second half, which included its Materials unit adding around 515m tonnes of aggregates reserves.

Meanwhile, the European division completed six transactions worth €119m during the last six months of the year.

As such, development initiatives since the end of June amounted €375m, taking the full-year total to €630m; with net deferred consideration of around €130m, cash spend for the year was around €500m.

"The €0.6 billion of development activity during 2012 reflects CRH's long-term, value-based approach to developing our balanced portfolio," said Chief Executive Myles Lee.

"The Materials transactions bring strong asset-backed resource positions and, when combined with existing operations, provide significant opportunities for vertical integration. In the Products segment, the 2012 acquisitions reflect our focus on repair, maintenance and improvement (RMI) and sustainability segments and on the optimisation of production networks in core regions, while our 2012 Distribution additions also reflect an RMI emphasis as well as the ongoing development of new channel opportunities in European distribution markets."

BC

Recommended

The top funds to invest in
Funds

The top funds to invest in

Investors continue to favour passive funds in April though figures reveal an actively managed money market fund also caught their eye. We look at wher…
3 May 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
20 Apr 2023
Best junior stocks and shares ISA platforms
Isas

Best junior stocks and shares ISA platforms

A junior stocks and shares ISA is a great way to save for your child tax-efficiently. But it can be confusing deciding which investment platform to ch…
28 Mar 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023

Most Popular

June’s NS&I Premium Bond prize draw - are you this month’s millionaire?
Savings

June’s NS&I Premium Bond prize draw - are you this month’s millionaire?

Two fortunate NS&I Premium Bond winners are now millionaires. Find out here if you’re one of them.
1 Jun 2023
The best one-year fixed savings accounts - June 2023
Savings

The best one-year fixed savings accounts - June 2023

You can now earn 5% on 1 year fixed savings accounts - the best rate seen in 14 years. We have all the latest rates available now.
2 Jun 2023
The top healthcare funds to buy
Investments

The top healthcare funds to buy

Increasingly rapid progress in drugs and healthcare technology makes these trusts top tips, says Max King.
1 Jun 2023