Qualceram turnover down at haf year point

Qualceram Shires, a leading manufacturer, and distributor of a wide range of bathroom suites, has announced its interim financial results for the half year ended 30 June, 2007.

Turnover for the period was €50.1m down from €52.1m at the same stage last year while gross profit was down €300,000 to €16.1m form the same time last year. Operating Profit grew from €2.2m to €2.4m in 2006.

Commenting on the results Group Chief Executive of Qualceram Shires plc, John O’Loughlin said: "The Group is satisfied with trading for the first six months given current market conditions. Sales have been impacted in both our main markets by areas outside of management’s control, such as, increasing interest rates and by the slowdown in the Irish housing market."

"The improvement in operating performance vis-à-vis this time last year has come about through the active management of the Group’s cost base which continues to be a priority."