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Article: Profits fall at explosives company
- Article from:
- The Irish Times
- Article date:
- August 22, 2009
- Author:
CopyrightCopyright 2009 The Irish Times. Provided by ProQuest LLC. (Hide copyright information)
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IRISH INDUSTRIAL explosives company Kemek Ltd saw its profits
fall by 36 per cent last year as the economic downturn, increased
competition, and a substantial increase in raw materials costs hit
its bottom line.
Kemek, which is half owned by Irish-listed building materials
group CRH, posted a pretax profit of [euro]12.8 million in the year
to December 31st, 2008, according to accounts provided to The Irish
Times.
This compared with a surplus of [euro]20 million in 2007.
Kemek's turnover fell by 13 per cent to [euro]43.8 million as the
company felt the impact of a downturn in housing activity and road
construction.
The decline in sales has continued into 2009, with turnover down
by about 50 ...