CRH PLC (LON:CRH) said it expects full-year underlying profits to be ahead of last year’s after profitability and margins improved in the third quarter.
The FTSE 100-listed building materials group reported US$20.6bn of revenue for the nine months to end-September, down 3% on this point last year.
READ: CRH continues with dividend after record cash flow in first half
Directors expect to make a non-cash impairment related to its UK and China businesses of around US$0.8bn in the final quarter, partly as a result of the anticipated combined economic impacts of COVID-19 and Brexit.
But still for the full-year, EBITDA is expected to be in excess of US$4.4bn, which would be ahead of 2019 on a like-for-like basis.
Chief executive Albert Manifold said: “Markets continue to be impacted by the global pandemic and while we have seen some lower activity levels, I am pleased to report further improvement in trading performance, with an advance in both profitability and margins.
“The outlook for the coming months remains uncertain and visibility is limited, however, I am confident that we are well positioned for the challenges and opportunities that lie ahead.”