Readymix posts losses of £18m

Building materials group Readymix yesterday reported a pre-tax loss of £18m in the first half of this year as demand for its products fell further. The group's revenues fell by 24 per cent and an operating loss of £6.2m. Readymix said its priority was further cost cuts and that the company expects very demanding trading conditions to continue into next year due to weakness in the housing and commercial sectors and the uncertain timing of any new infrastructure projects.