German Housing Slump Hits Redland and RMC

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TOM STEVENSON

City Editor

Bricks and roof tiles group Redland warned yesterday that a continuing slump in the western-German housing market, from which it earns about half its operating profit, would mean 1995 profits below expectations. Its shares, which have underperformed sharply over the past year, slipped 7p to 381p

The announcement came ahead of meetings with analysts later this week to discuss last year's trading and prospects for the current year. Although analysts had expected the news from Germany to be poor, yesterday's announcement also hit RMC, the concrete company that also earns a large proportion of its profits in that market. RMC fell 31p …