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28/02/2002
Construction slowdown curtails Readymix profits
Irish concrete and cement group Readymix, has revealed that pre-tax profits were flat at €25.7m euro last year, mainly because of a 'considerable slowdown' in construction activity in the Republic of Ireland.
The company also revealed that market conditions in Northern Ireland, as well as those in the Isle of Man and British operations, were more stable.
Group turnover was down four per cent at €222m, while earnings per share were nearly unchanged at just under 20 per cent.
The company also noted a slowdown in the residential sector, despite a record year for housing completions.
The company said the rate of cost increases moderated in 2001, but still remained high while it cited employee costs, insurance and an increase in the price of cement.
For the year ahead, Readymix predicted that construction activity might decline further in the first half, but the outlook for the second half was more positive. (MB)
The company also revealed that market conditions in Northern Ireland, as well as those in the Isle of Man and British operations, were more stable.
Group turnover was down four per cent at €222m, while earnings per share were nearly unchanged at just under 20 per cent.
The company also noted a slowdown in the residential sector, despite a record year for housing completions.
The company said the rate of cost increases moderated in 2001, but still remained high while it cited employee costs, insurance and an increase in the price of cement.
For the year ahead, Readymix predicted that construction activity might decline further in the first half, but the outlook for the second half was more positive. (MB)
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CIPR Journalism Awards In Full
Deric Henderson of the Press Association has been awarded the Journalist of the Year title The Belfast Telegraph lifted the title for Coca-Cola CIPR Newspaper of the Year, and the BBC's Spotlight Programme won the Coca-Cola CIPR Scoop of the Year and the Coca-Cola CIPR Current Affairs Programme of the Year for its Irish Robinson Investigation.
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Deric Henderson of the Press Association has been awarded the Journalist of the Year title The Belfast Telegraph lifted the title for Coca-Cola CIPR Newspaper of the Year, and the BBC's Spotlight Programme won the Coca-Cola CIPR Scoop of the Year and the Coca-Cola CIPR Current Affairs Programme of the Year for its Irish Robinson Investigation.
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
