Profit warning hits Qualceram share price

SHARES in Qualceram Shires tumbled by 13% yesterday after the bathroom and ceramics manufacturer issued a profit warning.

Higher manufacturing and transport costs were starting to bite and would take €1.25 million off the bottom line, the Arklow-based company said in a trading update.

Qualceram, which made pre-tax profits of €3.5m last year after losses of €11.6m in 2002, said higher oil prices had fed through to transport costs while margins were also hit by higher utility charges. “We have not been able to pass these costs on in selling prices,” the company said.