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Mincon's profit margins

Shares in Clare-based Mincon, the mining equipment company, fell yesterday as its interim results disappointed investors.

The company also said that it's paying €7m for a 65pc stake in a Canadian firm as well as almost €1m for stakes in two other businesses. Mincon's revenue in the first six months of the year slumped 15pc to €23.4m, with its operating profit tumbling 37pc to €5.1m.

Chief executive Kevin Barry blamed continuing weakness in the global mining industry for the fall.