Concrete products company Readymix has reported pre-tax profits of €42.6m for last year, up 32% compared with 2005.
The company attributed the growth to favourable economic conditions and measures to improve its efficiency. The profits rise came about despite a 1% fall in revenue to €245.4m.
Readymix chairman Adrian Auer described the results as encouraging, adding that the improvement would be reinforced by significant investment. He pointed to a 48% jump in operating profits to €19.6m. This excluded gains from property sales, which helped eliminated Readymix's debt.
The board is recommending a final dividend of 6.1 cent per share, giving a 10% higher total of 7.76 cent. Earnings per share were up 49% to 33.89 cent.
Readymix shares were up 12 cent at €2.90 in Dublin this afternoon.
