Volume 36, Issue 12, December 2001

FinancialFlash

CRH plc Reports 2001 Interim Results 
CRH plc of Dublin, the parent company of Oldcastle Glass, has announced its interim results for the six months ended 
June 30.

“Overall current conditions in our various markets are less favorable than in recent years,” said Liam O’Mahony, chief executive. 
“Nevertheless, supported by our balanced spread of operations and contributions from 2000 and 2001 acquisitions, we look forward to a year of further progress in 2001.”

According to the report, sales (in EURO) were 4,496 million, up 23 percent. 

Trading profit in the Americas increased by 12 percent to EURO 110 million, reported the company. According to the statement, “the impact of the first-time inclusion of the traditionally loss-making winter period for 2000 materials acquisitions and varied demand patterns in certain products and distribution markets were more than offset by the benefits of lower bitumen costs, contributions from current year acquisitions and favorable translation effects.”

Construction-Zone.com Shuts Down Operations 
The construction website, www.construction-zone.com, which is headquartered in Louisville, Ky., has announced it is in the process of shutting down its operations and liquidating its assets. According to a letter sent out to creditors, Fifth Third Bank holds a first-priority security interest on all of Construction-Zone.com’s assets, and a second-priority security interest is held by certain other creditors, none of which were named. 

The letter states, “it is extremely unlikely that there will be sufficient proceeds derived from the liquidation of Construction-Zone.com’s assets to pay the priority-secured lenders in full. As a result it is unlikely there will be sufficient proceeds to pay unsecured creditors.”

LBL Skysystems Reports Net Sales of $24.9 Million CND
Based in Bois-Des-Filion, Quebec, LBL Skysystems Corp. announced net sales of $24.9 million (CND) in the first quarter which ended June 30, 2001, an 80.7-percent increase over revenues of $13.8 million for the same period last year. The company also reported that its earnings rose considerably in the first three months of the 2001-02 fiscal year.

LBL’s EBITDA rose 153.1 percent to $1.549 million (CND) and net profit climbed to 488.5 percent, reaching $458, 605 (CND) or 4 cents per share. 


USG

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