McInerney announce 'improved performance' in 2004
Builders McInerney Holdings have said group performance improved in 2004.
Total private house completions for the group in Ireland, UK and Spain increased by almost 10% to 1,619 in 2004, compared to 1,481 at year end 2003, McInerney Holdings said today in a trading statement.
Private house completions in Ireland increased from 969 in 2003 to 1,101 in 2004. The group is now operating on 31 private housing sites in Ireland compared to 30 sites a year ago.
In the UK, house completions increased to 500 in 2004 from 447 in 2003. The UK McInerney land bank now stands at more than 1,800 plots compared to approximately 1,200 at end 2003. In addition, the group has options on circa 400 plots and has 30 private housing sites operational in the UK compared to 17 sites a year ago.
Managing director Barry O’Connor said: "There were very favourable market indicators during 2004. In Ireland, the demand for housing from our target market of first time buyers continued to be strong. We are currently well positioned as we enter 2005.
“Whilst some commentators are suggesting a softening of the housing market in the UK, demand in our market segment continues to remain robust as we operate in regions with significant housing needs. Our UK product is geared towards this sector."
Preliminary financial results for the group will be published at the end of February.
Preliminary financial results for the Group will be published at the end of February.
