Trading profits for the Readymix Group fell by almost a quarter in the first half of the year.
Profits plunged 23 per cent to €7.6 million for the first six months of the year, compared with €9.8 million last year.
However, turnover for the group increased by 2.9 per cent year-on-year to €125.3 million. Pre-tax profits also increased, climbing to €27.64 million from €10.9 million the previous year.
Despite increased volumes in the Republic of Ireland, a combination of competitive pricing and rising input costs succeeded in keeping profits flat. In Northern Ireland, lower volumes slightly decreased profits.
The Isle of Man also suffered a sharp drop in profits, with delays in infrastructure projects affecting the figures.
The company admitted that progress on a group-wide cost cutting programme is slower than expected. However, it said the board was confident that action was being taken to restore the financial performance of the Group to acceptable levels in the medium term.
In July, the company sold it disused quarry at Aughrim, Co Antrim, for €20 million; the proceeds will be used to reduce the group's debt.