Manifold sells off €3m worth of CRH shares

By Maurice Garvey

CRH boss Albert Manifold has sold almost €3m worth of shares in the building materials giant, according to stock exchange filings for the group.

It brings his total CRH share sales so far this year to almost €6m. Less than six months ago, Mr Manifold sold €2.8m of shares in the company.

CRH Head Office Belgard Castle 01 compressor

CRH head office, Belgard Castle on Belgard Road

The chief executive also has seen a significant number of shares vest this year. In March, €4.4m worth of CRH shares were awarded under the group’s 2014 performance plan vested.

They were awarded at no cost to Mr Manifold.

In May, an additional 186,000 shares worth €5.4m were granted to Mr Manifold under CRH’s 2014 performance share plan.

Meanwhile, a stock exchange filing last week showed that CRH non-executive director Richie Boucher has bought almost €200,000 worth of shares in the group.

Mr Boucher, the former chief executive of Bank of Ireland, joined the CRH board last year.

CRH recently announced record earnings before interest, taxation, depreciation and amortisation of €1.54bn in the six months to June 30.

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Albert Manifold, CRH

Headquartered at Belgard Castle, the company’s sales of €13.2bn were 11 per cent year higher than the corresponding period last year.

Speaking at the time the interm results were published, Mr Manifold said CRH has delivered significant profit growth in the first half of 2019.

He noted a good performance in their heritage business and strong contributions from recent acquisitions.

He said the company is continuing its share buyback programme, with a further tranche of €350m to be completed by year end – bringing the total share repurchases in 2019 to €900m.

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