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Irish bathroom suite maker Qualceram Shires reported a first-half loss for the six months ended 30th June, as the UK and Irish property markets slumped.
The Arklow-based company recorded a €3.44 million loss compared with a profit of €1.62 million a year earlier.
Sales fell 28 percent to €36.1 million during the first-half of fiscal 2008.
Group turnover was €36.1 million, versus €50.1 million for the same period last year.
Turnover in Ireland fell by 34 per cent to €13.7 million as against €20.8 million while turnover in the UK fell by 27 per cent to €18.9 million.
Gross profit totalled €12.5 million while operating loss before exception items was €0.08 million.
"Demanding market conditions have impacted on turnover and profitability in the first half of 2008 and conditions will remain challenging for the remainder of the year. Further rationalisation will be implemented to counteract the downturn with particular emphasis on cash management," said chief executive John O'Loughlin in a statement.
