Further share buybacks under ‘active consideration’ at CRH

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Further share buybacks under ‘active consideration’ at CRH


CRH CEO Albert Manifold
CRH CEO Albert Manifold

Ireland’s biggest company CRH has said further share buybacks “are under active consideration”.

Details of future share buyback programmes will be announced as part of the group’s trading update on the 24th of April.

The news comes as the group said it has completed the fourth phase of its current share buyback programme, returning a further €200m of cash to shareholders.

Between 2 January and 29 March this year, 7.6 million ordinary shares were repurchased on Euronext Dublin, formally the Irish Stock Exchange, and London Stock Exchange at an average discount of 0.6pc to the volume weighted average price over the period.

This brings total cash returned to shareholders under the group’s share buyback programme to approximately €1bn over the last 12 months.

CRH released full-year results last month that showed it recorded earnings of €3.37bn for 2018 on sales of €26.8bn.

The group spent €3.6bn on acquisitions in 2018 and completed €3bn of disposals.

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