Fall-off in profits for Qualceram Shires
Bathroom products company Qualceram Shires PLC have announced a downturn in profits for the first six months of this year.
Gross profit was down €1.3m to €16.3m and operating profit which was €3.6m in 2004 fell €.7m to €2.9m for the first six months of this year.
Commenting on the results Group Chief Executive of Qualceram Shires plc, John O’Loughlin said: “The period in question was a challenging one for the wider market and for Qualceram Shires plc.
"Intense industry price competition aligned with weakening housing and RMI markets in both the United Kingdom and Ireland, and the restructuring of the Group’s Longton plant have had an impact on the first half.
"Despite current challenges, many of which are outside of the Group’s control, we are confident, with the backing a strong balance sheet and a highly cash generative business, of adapting to current and anticipated market forces to ensure the Group remains on a strong footing.”
