Building Materials Giant Posts Rise in Pretax Profits in 2007

Dublin–Irish building materials group CRH–the second-biggest building materials maker and distributor in the world–announced a 19 percent 2007 pretax profit increase Tuesday, the Irish Times reports.The Dublin-based company’s pretax profit through December grew from €1.60 billion in 2006 to €1.90 billion ($2.89 billion) last year. CRH also forecast higher earnings and profit this year. CRH chief executive Liam O’Mahony said in January that he would be dissatisfied if the company did not at least have the same acquisitions rate in 2008.