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Housing still driving McInerney growth

Building group McInerney says it will report a 'strongly improved' performance for 2003 when it releases financial results in February.

In a trading statement, the company said it completed 1,481 houses, an increase of 28% on 2002, with Ireland accounting for 969 of these. The UK showed strong growth, rising from 257 to 447, while its Spanish division completed 65 units at its Marbella development.

Managing director Barry O'Connor said the Irish housing market continued to show strong demand, while UK division had taken advantage of the buoyant market in the north-west of England.

McInerney also has a high level of housing deposits on hand, up 35% to 978.

Shares in the company were up 12 to €5.35 in Dublin this afternoon.