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House Builder Abbey's First Half Profits Climb Nearly 50%

House builder Abbey has reported pre-tax profits of £14.7m for its first half to the end of October, up from £10m the previous year. Turnover rose from £49m to £64.2m.

The company completed 357 sales in the period - 227 in Britain and 130 in Ireland. Abbey says the Irish housing market remains buoyant, while the UK market is steady.

But it says recent bad weather is hampering site operations, though the effect is not likely to be felt until the first half of next year and new starts are held up.