ONE of the boats being lifted by the rising tide of spending on housing, road works and general infrastructural projects in the Republic is that of the publicly quoted Readymix. A strong set of half year results this week reflect the surge in construction activity with pre tax profits rocketing 85 per cent to £3.9 million on a £10 million improvement in turnover to £30 million. Further growth is anticipated in the remainder of the year.

Managing director John McNerney talks of "real buoyancy" in the home market, particularly in the Dublin area. Acquisitions, such as the RMC Catherwood business acquired for £23 million, chipped in £800,000 to group profit. The acquisition, which brings Northern Ireland and the Isle of Man into the Readymix ambit, gives the group two additional operational areas outside the Republic. Some modest acquisitions are contemplated with the group is talking to "one or two" small companies in the Republic.

With earnings per share up strongly to 7.79p - the interim dividend is somewhat conservatively increased from 1.20p net per share to 1.30p. The shares, at 123p, are near their 12 months high of 125p.