House building group McInerney has said it completed 2,372 homes in 2006, an 18% increase on 2005.
House completions in its Irish division fell slightly to 1,025, but the figure for the UK surged by almost 50% to 980. 53 units were completed in Spain, up from 35 in 2005.
Managing director Barry O'Connor described 2006 as a milestone for the group, pointing particularly to the UK figures.
McInerney's commercial division Hillview completed just over 13,000 square metres of industrial units, down from 15,300 in 2005.
Davys Stockbrokers today upgraded their price target to 1750c due to McInerney's 'measured' expansion in the UK.
Davys said they remain comfortable with their diluted adjusted forecast of 136.8c, 15% above the 2005 result.
Shares in the company closed up 2 cent at €15.92 in Dublin this evening.
