Concrete products group Readymix says it expects to report a pre-tax loss of around €6.9m for the first six months of this year. This compares with a loss of €9.6m for the same period last year.
In a trading update, it says total revenue from continuing businesses was down 44% on the same period last year. The company says it has cut staff numbers by 10% since the start of this year.
Readymix says it expects difficult trading conditions to continue in all of its markets for the rest of the year. 'A limited number of continuing infrastructure projects have not compensated for the collapse of demand from the housing and commercial sectors,' it says.
Shares in the company closed down two cent ay 17 in Dublin this evening.