Construction supplies group Readymix said yesterday it expected first-half operating profit to be about 20 per cent ahead of the year-earlier period.

The company, which reported operating profit of €28.4 million in the first half of 2005, said this year's performance had been further boosted by an extra €21.5 million received from the disposal of assets. Readymix last month announced it had sold its site on East Wall Road, Dublin to the Dublin Docklands Development Authority (DDDA) for €23 million in cash. It said it expected to make a €20 million profit on the sale, which is slated to close on August 16th.

At the group's AGM in May, managing director Roger Gonzalez said sales and profit were a "real improvement" on the year-earlier period. The company said it had managed to raise concrete prices by as much as 7 per cent at the start of the year and, as a result, was managing to pass some of the higher energy costs on to its customers. Mr Gonzalez said demand for the group's products remained strong.

Readymix will release interim results on August 11th.