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Cost cutting helps CRH face down Covid-19

While global construction markets were disrupted by the pandemic, the group limited the impact on earnings through higher pricing and good cost control
Cost cutting helps CRH face down Covid-19

Despite Covid-19 hitting construction markets in the second quarter, building materials supplier CRH (CRH) saw its cash profits (Ebitda) dip by just 2 per cent year-on-year in the six months to 30 June, to $1.6bn (£1.2bn). This was 23 per cent ahead of FactSet-compiled analyst consensus. While the group was hit by $65m of one-off costs, further damage was prevented by higher pricing and cost cutting efforts.

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