Trading statement to focus on deal activity – Ash Grove not PPC

  • Sectors : Building Materials
  • Companies : CRH

Ratings and price correct at time of issue.

  • CRH

    Closing Price: 3005c

  • RATING 23/05/12

  • PREVIOUS RATING 12/01/12



CRH will provide a trading and development update on November 21st. The statement should contain few surprises given recent peer commentary. Weaker UK activity and wet US weather suggest no upside to 2017 estimates. The group has, however, been busy on the M&A front, which is likely to result in significant FY18 upgrades. We expect a detailed update on Ash Grove and other acquisition activity. The latest report suggests that CRH has taken an interest in PPC in South Africa. We place a low probability on this deal occurring given management’s stated preference for value-creating deals in developed end-markets.

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Nov 14 2017, 07:20 GMT