Readymix reports pre-tax loss of €6.6m

Readymix today reported pre-tax loss of €6.6m for the first six months of the year.

It said that trading conditions, bad since 2007, have deteriorated further.

Revenues were down 30% compared to the same time last year.

Revenues for aggregates had declined by 31%, while sales of concrete and blocks had dipped by 24%.

“The recession continues to severely impact Irish construction, with a weak housing sector, a marked deterioration within the commercial area and a an ongoing lack of certainty regarding the extent and timing of government infrastructural spend,” the company said.

The company added that it expected the very demanding trading conditions to continue for the rest of 2010 and into 2011.

Article courtesy of the Evening Echo newspaper.