RMC profits will be less after spending on roads falls

Reduced spending on roads in Britain and problems at one RMC's cement plants will cut first-half profits in its UK business by almost half, it has warned today (Tuesday). 

However, the concrete and cement manufacturer said it was still on track to meet its full-year earnings forecasts as better-than-expected results in the US and France will offset the UK's performance.

UK profitability in the first half will be only slightly more than half of the £41m reported in the same period last year.

The company also revealed that executive directors Mike Foster and Graham Clark will step down from the board but will work as advisers to the firm until the end of the year.