Concrete products group Readymix says cost cuts have narrowed its losses in the third quarter of this year.
In a trading update, it said it had made a trading loss of €1.5m - before once-off items - in the third quarter, compared with a €5.5m loss in the same period a year earlier.
For the first nine months of the year, Readymix says pre-tax losses are €8.5m, down from losses of €15.7m in the same period last year. This is despite a 40% drop in revenues in the nine months.
Readymix says it is looking at 'selective' sell-offs from its property portfolio, but will complete deals only where it feels there is long-term value for shareholders.
'The group is now seeing the results of aggressive rationalisation of its cost base. However, uncertainty remains on the timing of the recovery of the construction sector in the markets in which we operate,' said chairman Adrian Auer.
