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[May 2008]
First Half Sales at Qualceram Shires Forecast for Big Drop
Qualceram Shires PLC has sounded a warning note about sales, saying that it expects first half group turnover to drop around 30% compared with H1 2007. Apparently sales in Q1 2008 were down 30% and trading is currently going the same way.
Tough UK and Irish market conditions, combined with fewer housing starts and the overall economic weakness are seen to be materially impacting group sales.
Qualceram Shires has reportedly been carrying out a cost reduction programme since the beginning of the year and benefits should flow through in Q2 2008. It had, as previously reported, also agreed a sale on the Arklow site.
No substantial update was available on the offer approach made for the company, first reported in late March, only that evaluation of this was ongoing.
www.qualceram-shires.com
ENDS