CRH, the international building materials said today in a trading update, that it currently expects to deliver 2008 profit before tax in excess of €1.6 billion which would represent a mid-teen percentage decline on the 2007 outcome of €1.904 billion, in line with guidance provided in the Interim Management Statement of 11 November. CRH also announced second half 2008 acquisitions of €273 million bringing full year spend to approximately €1 billion and on the outlook for 2009, the group says it is extremely challenging, given the severe impact of ongoing turmoil in financial markets on both developed and emerging economies across the world. However, the group said that there are a number of positives with lower energy costs, the recent step-up in interest rate reductions and increasing prospects for a significant US infrastructure stimulus package. CRH says while these factors are unlikely to offset the negative headwinds in the first half of 2009, they should begin to influence sentiment and activity later in the year.