Readymix makes €3.9m pre-tax loss

READYMIX has succeeded in reducing its first quarter losses, but a 2.5% year-on-year decline still meant the company made a pre-tax loss of €3.9 million for the first three months of this year.

In an interim management statement, published yesterday, the Dublin-based cement products and building materials provider said that revenues fell by 39% for the period, on a year-on-year basis. This fall was down to “a dramatic drop in volumes across all products”.

“In a very competitive and fragmented market, prices across all of our product lines have either remained stable or achieved minor increases,” the company said. It added that it remained in a healthy financial position, with a positive bank balance of €1.2m at the end of last month.