British market powers McInerney results
Building group McInerney Holdings plc has reported pre-tax profits of €8.53m for the first-half of 2003.
This represents a 17% increase on the figure for the corresponding period last year (€7.30m).
Group turnover increased from €111.3m to €138.5m. Basic earnings per share were 21.00 cent compared to 17.47% for the same period in 2002, representing an increase of 20%.
In Ireland, housing demand among first time buyers continued to be strong and formed the group’s core market.
McInerney is also actively seeking opportunities for regional expansion in Britain to help achieve the group's five year strategy to enlarge its business there to the size of its Irish house building operation.
According to Chairman, Roy Ferris: “This accomplishment reflects favourable market conditions and good product positioning which supported a strong level of sales being achieved across all key areas.
“We note with particular satisfaction the increasing contribution of our UK business to the Group's result.
“Consequently, the Directors are confident of a strong second half result and overall result for the year,” Ferris added.
