Concrete products group Readymix has warned that profits for 2004 will be 'substantially below' market expectations.
The warning was issued after the markets closed on Friday evening.
Readymix said a drop in margins in the third quarter had accelerated in the final quarter, cutting profits in the Republic and Northern Ireland.
The company blamed intense competition and higher raw materials costs, adding that recent fuel price rises had also affected transport and production costs.
It said strong demand and increased sales had not been enough to offset these negative factors.
