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This FTSE giant has cracked the US

This group’s change of primary listing venue to New York opens the door to more US deals
November 30, 2023

As inhabitants of the Lone Star state are fond of telling people, everything is bigger in Texas.

Tip style
Value
Risk rating
Low
Timescale
Medium Term
Bull points
  • Strong record of profit and cash growth
  • Excellent buyer and seller of bolt-ons
  • Focus on higher-margin US arm
  • Reasonably priced
Bear points
  • Political risks to projects
  • Some subdued end markets

This is also true of Irish building materials supplier CRH (CRH), which last week announced a $2.1bn (£1.7bn) deal to buy a cement factory, 20 ready-mixed concrete plants and a network of Gulf coast terminals from Martin Marietta Materials (US: MLM).

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