Concrete products group Readymix has reported bigger losses for last year, saying there had been 'no respite from the ravages of the recession'.
The company reported a pre-tax loss of €19.8m for 2010, worse than the €13.5m loss a year earlier. Sales dropped by 36% to €52.4m.
Readymix said construction activity in Ireland had declined by around 66% since 2007, with a fall of 35% last year. It said pressure on prices due to competition, and credit default by some customers, had also hit revenue.
The company said it had continued to cut costs, with staff number falling by almost a fifth last year. Last month, Readymix said talks on a possible offer for the group had been terminated.
