Readymix unveils first quarter loss

Irish company 4298 Readymix recorded pre-tax losses of €3.8million in the first quarter of 2010, a modest improvement on losses of €3.9million for the corresponding period the previous year.

The concrete products company's first quarter revenues slumped 31% against the same period the year before. Revenues were hit by a decline in prices across several product lines, while subdued construction industry activity continues to have an adverse impact.

Readymix warned revenues for the rest of the year will be down on a comparative basis due to lower volumes and continuing price pressure.