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Building materials group CRH posted a 4 per cent rise in quarterly sales at the start of 2017 on the back of steadily improving conditions in the US and mild weather conditions.

In a first quarter trading update, the FTSE 100 group said its like-for-like sales rose 3 per cent in the three months to the end of March, in line with forecasts, helped along by a steady recovery in construction in the US after a disappointing 2016.

The Dublin-based group, which does 65 per cent of its business in the Americas, said it expected its first half ebidta to come in ahead of last year’s €1.12bn.

But it warned that a still “challenging” market in the Philippines would weigh down on its Asia performance in the first six months of the year.

European sales rose 6 per cent, “supported by stabilising trends in certain key markets and by the timing of Easter holidays which occurred in the first quarter of 2016″, said CRH.

Copyright The Financial Times Limited 2017. All rights reserved.

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