CRH (CRH) - Get Report , the building materials group, saw sales rise 22% in the first nine months of the year on favorable weather, as the group is expected to benefit from increased infrastructure spend in the U.S. during the Trump presidency.
In a trading update published Thursday, the Dublin-based company also said that it saw a limited impact of Brexit on trading to date.
As sales hit €20.4 billion, currency headwinds were fierce for the company as proforma sales were just 6% higher for the nine months. For the full year, CRH expects overall Ebitda of more than €3 billion, up from last year's €2.2 billion.
Shares in the group rose 0.65% by 09:00 GMT Thursday to change hands at 2,714 pence each, extending its three-month gains past 7%
The group saw shares jump last week after Donald Trump won the presidential election. President-elect Trump's campaign promise of increased infrastructure spend has could benefit CRH. The group is the largest producer of asphalt and the third-largest producer of construction aggregates in the U.S.
In the third quarter sales for the Americas division were up 1% compared with the same time period last year, but Ebitda improved by 11%, reflecting strong margin improvement. For the full year, CRH expects earnings to be in excess of €1.9 billion based on an average U.S. dollar/euro exchange rate of 1.11.