Operating profit at Allied Building Products rose to €17 million ($23.2 million) in the first six months of 2014, up 31% from a year-ago operating profit of €13 million ($17 million) according to today's interim report by its parent company, Irish building materials conglomerate CRH.
According to the earnings report, the average exchange rate from euro to dollar in the first six months of 2014 was 1.37, meaning every euro was worth 1.37 dollars. In 2013, the average six-month euro-to-dollar rate was 1.31.
The company, which ranked fourth on the 2014 ProSales 100 list, posted an EBITDA of €28 million ($38.3 million), up 17% from last year's six-month total of €24 million ($31.4 million). Allied also reported a 2% increase in like-for-like US Dollar sales in the first half of 2014, with gains made by in sales of wallboard, steel studs, and acoustical ceiling more than offsetting sagging sales of roofing and siding.