Bathroom products maker Qualceram Shires has reported a drop in pre-tax profits for the first half of the year, as the housing slowdown affected its Irish sales.
Total sales fell by almost €2m to €50m, with Irish turnover down 11% to €20.8m, though UK sales were up marginally at €25.9m.
But operating profits increased by 9% to €2.4m, which chief executive John O'Loughlin attributed to 'active management of the group's cost base'. Costs fell 4%.
Qualceram Shires recently announced the sale of its 13-acre headquarters in Arklow for €31m. The company said market conditions remained 'challenging' and the company was committed to further improvements in its costs.
Qualceram shares closed down 17 cent at €1.63 in Dublin this evening.
