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Readymix profits fall

Irish concrete group Readymix has blamed a 23 per cent fall in profits on rising costs and more competitive pricing.
The Dublin company saw underlying pre-tax profits fall to £5.3 million in the half-year to June, compared with £6.8 million in 2004.

Turnover increased 2.9 per cent to £86.7 million, a 2.9 per cent rise on last year.

The company has sold its disused quarry in Co. Antrim for £13.8 million, cash that will be used to reduce debt.

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