CRH optimistic following first-quarter 2017

CRH, parent company of Oldcastle, reports a satisfactory start to 2017 with global first-quarter sales up 4 percent compared to the prior-year period.

CRH describes the first-quarter weather conditions for its Americas Materials operations as less than favorable, although positive pricing trends in both aggregate and ready-mix were experienced compared with the first quarter of 2016. Still, like-for-like volumes of aggregate and ready-mix concrete were down in the first quarter, the company says.

Despite less-favorable weather conditions and challenging prior-year comparatives in CRH’s Americas sector, the economic and business environment remain positive, the company adds. Excluding the favorable impact of the strong U.S. dollar exchange rate this year, like-for-like sales were in line with 2016.

Looking ahead, CRH expects U.S. residential construction, which has not returned to long-term average levels, to advance. Nonresidential activity is also expected to improve, the company says.