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

Which assets will benefit as the “jam tomorrow” bubble pops?
Investment strategy

Which assets will benefit as the “jam tomorrow” bubble pops?

With tech stocks, cryptocurrencies and many other “long duration” investments crashing hard, the “jam tomorrow” bubble looks to be bursting. John Step…
24 Jan 2022
Three innovative Asian stocks to buy now
Share tips

Three innovative Asian stocks to buy now

Professional investor Fay Ren of the Cerno Pacific Fund highlights three of her favourite Asian stocks to buy now
24 Jan 2022
Share tips of the week – 21 January
Share tips

Share tips of the week – 21 January

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
21 Jan 2022
Seven cheap defence stocks to buy now
Share tips

Seven cheap defence stocks to buy now

We’ve got used to a world without war between major powers, but that era is coming to an end as Russia threatens Ukraine and China eyes Taiwan. Buy de…
21 Jan 2022

Most Popular

Shareholder capitalism: why we must return power to listed companies’ ultimate owners
Investment strategy

Shareholder capitalism: why we must return power to listed companies’ ultimate owners

Under our system of shareholder capitalism it's not fund managers, it‘s the individual investors – the company's ultimate owners – who should be telli…
24 Jan 2022
Three innovative Asian stocks to buy now
Share tips

Three innovative Asian stocks to buy now

Professional investor Fay Ren of the Cerno Pacific Fund highlights three of her favourite Asian stocks to buy now
24 Jan 2022
Temple Bar’s Ian Lance and Nick Purves: the essence of value investing
Investment strategy

Temple Bar’s Ian Lance and Nick Purves: the essence of value investing

Ian Lance and Nick Purves of the Temple Bar investment trust explain the essence of “value investing” – buying something for less than its intrinsic v…
14 Jan 2022