RE:RE:RE:it was about timeHey PSD
As mentioned this is great news and I was happy to see this this morning. I'm saying I'm not ready to get back on the band wagon and start saying CRH is now heading back to its previous highs or even half of that.Many investors lost their shirts on CRH and that will not soon be forgotten. The company will carry that bad image for some time.
I also am familiar with many success stories of companies using share buy backs as an incredibly efficient use of company cash, if done correctly. Any Buffett fans know he is a propenent of buy backs, only if the share price is under valued. Yes I do feel CRH is undervalued so the timing is right for this. We will see if mgmt continues to do buy backs after this round. Obviously spending the cash flow from operations on buy backs will impact growth and acquisitions so they will need to find a happy medium. But I prefer the buy backs to growth at this time. They need to try to stop this over done drop in share price. I still feel we are likely in for a rocky road until the new year. However I am still holding and glad mgmt has done what they said they would.