Ireland's biggest homebuilder, McInerney Holdings, has reported pre-tax profits of €28.46m for the year ended December 2003, an increase of 38% on 2002.
McInerney built 969 new homes in Ireland last year and says it had nearly 800 deposits on hand at the end of December for new house sales. McInerney's total build was 1,481 houses in 2003, up 28% on 2002.
In the UK, the company built around 447 private houses, up 74% on 2002 as 48-year low interest rates and low unemployment boosted demand for property.
Earnings per share at the firm were just under 73 cent, and the company is to pay a total dividend for the year of 11 cent per share, representing an increase of 76% on 2002. Turnover rose 52% to €352.5m.
'Market conditions in Ireland were favourable and strong demand from the first time buyer demographic segment continues to benefit the group's strategy of providing quality homes to this core target market,' group chairman Roy Ferris said.
* McInerney shares closed three cent lower at €5.27 in Dublin this evening.
