Buildings materials group Readymix has announced a first-half loss of €9.6m.
The company's interim results show that the rise in the cost of raw materials saw it record an operating loss of €6.6m in the six months to June.
However, the firm also spent €1.8m on plant and machinery, while rationalisation costs accounted for €1.3m.
The downturn in the construction sector has led to Readymix cutting its workforce by 15%, and in its report released today it said it expects the sharp reduction in demand for its products to continue well into 2009.
The company's directors have decided to declare an unchanged interim dividend of 1.65 cent per share.
Shares in Readymix were trading one cent higher at £0.70 this morning.
