Confirms FY guidance (Il Sole 24 Ore Radiocor) - Dublin, 10 May - The Irish building materials group CRH said that in the first quarter of 2024 it posted a net profit of 114 million dollars compared with a net loss of 31 million dollars a year earlier.

Total revenue totalled 6.5 billion dollars, up a reported 2% while organic revenue was up 1%.

Adjusted EBITDA rose 15% to 445 million dollars. Organic adjusted EBITDA was up 12%.

The company declared a new quarterly dividend of 0.35 dollars per share payable on June 26.

CRH reaffirmed is full-year guidance. It expects net income of 3.55-3.80 billion dollars and adjusted EBITDA 6.55-6.85 billion dollars.

"We are pleased to report a good first quarter performance in what is the seasonally least significant period for our business. That performance was supported by positive pricing momentum, early-season project activity, favorable weather in certain regions and the contribution from acquisitions. We believe the strength of our balance sheet together with our relentless focus on the efficient allocation of our capital enables us to capitalize on the opportunities we see for further growth and value creation in 2024 and beyond. Given this backdrop, we are pleased to reaffirm our previous guidance for 2024," said the chief executive, Albert Manifold.

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(RADIOCOR) 10-05-24 11:52:04 (0300) 5 NNNN