CRH, Ireland’s largest company, has said it is looking to build up a cash pile of €7 billion over the next three years.
Senan Murphy, the finance director, said the construction materials group would use the money for acquisitions, share buybacks or increasing the dividends. Announcing the half-year results, he said: “We generate about €2 billion a year, [that’s] cash available after we pay dividends and everything else.”
Albert Manifold, the chief executive, said the aim was to put most of this cash aside. “There will be €7 billion of unutilised financial capacity by 2021, so there is significant cash generation,” he said.
Mr Murphy added: “We will deploy this wherever it’s of most value to shareholders. We could make acquisitions, we could continue on…