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Sales fall £18 million at Cemex's UK arm

FINANCE

TRADING has turned down at the UK arm of Mexican aggregates titan Cemex.

In the three months to June 2006, Cemex UK net sales slipped to £327 million from £345 million in the same period last year and profits fell £6 million to £28 million.

Cemex, which bought UK firm RMC in March 2005, declined to explain the slump.

Executive vice-president of planning and finance Hector Medina said: 'We continue to be encouraged by our post-consolidation performance.

'Our solid performance during the first half of the year resulted primarily from the strength of our operations in most of our core markets.'

Overall, second quarter profits rose £81 million to £611 million.