CRH PLC (LON:CRH) delivered record levels of profitability, margins and cash generation in 2020.
The building materials group saw sales dip 2% year-on-year on a like-for-like (LFL) basis to US$27.6bn, but underlying earnings (EBITDA) rose 5% LFL to US$4.6bn while the EBITDA margin improved to 16.8% from 15.6% in 2019.
Operating cash flow edged 1% higher to US$3.9bn.
Profit before tax fell to US$1.66bn from US$2.18bn the year before.
The full-year dividend has been hiked by 25% to 115 cents while the company said it is restarting its share buyback programme, with US$300mln earmarked for the repurchase of shares.
“Although the near-term outlook remains uncertain, our unique portfolio of businesses together with the strength of our balance sheet leaves us well-positioned to capitalise on the growth opportunities that lie ahead,” said Albert Manifold, the chief executive of CRH.
CRH’s shares were up 1.4% at 3,341p in the first half-hour of trading.