Concrete group Readymix has said a fall-off in house building and construction activity will result in a fall of around 35% in pre-tax profits for last year.
In a trading statement, it said operating profits, excluding once-off factors, were expected to be around 65% below 2006 levels.
Two weeks ago, Readymix had signalled that profits would be substantially below market expectations and 2006 levels.
The company added today that the sale of its concrete products business and and costs linked to new accounting systems had also affected its financial performance.
Readymix said that while it expected 'tight' trading conditions to continue this year, it saw opportunities to improve on 2007's results, which will announced on March 3.
