Stark profit warning from Readymix

Stark profit warning from Readymix
Tuesday, 5 February 2008 08:08
There was futher evidence of the slowing construction market as concrete group Readymix issued a profit warning this morning.

The company said that although its annual results have not been finalised, it is clear that the operating profit before non-recurring items for 2007 will be substantially below market expectations and the operating profit achieved in 2006.

A further statement will be issued within two weeks, the brief statement added.

How long before the banks have to issue similar warnings ?

You know you’re in trouble when even the positive spin sounds bad.

Here’s how it should be done.
slate.com/?id=2063953

-Rd

Shares down 14%

Any one know how much of Readymix’s business is for buildings and how much is infastructural type stuff?

dunno what the % are but Cement is used early on in the construction process meaning that its a lead indicator material .

I would short tiles and kitchens now !!

Readymix has warned all through the building boom, could these guys make money if they were say in Dubai or Beijing - not so sure.