Readymix predicts €7m pre-tax loss

READYMIX has forecast it will post a pre-tax loss of nearly €7 million for the first half of this year.

The cement products and building materials company, predominantly owned by Mexican group Cemex, had previously warned further full-year operating losses were on the cards this year, although substantially lower than the €47.3m losses reported for 2008.

Yesterday, management said via a pre-close trading update ahead of the August publication of Readymix’s first half financial results that losses of about €6.9m would be likely for the six months. This would be down from a pre-tax loss of €9.6m for the first half of last year.