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Glenveagh Properties CEO standing down; COO Stephen Garvey takes over

Stephen Garvey, Glenveagh COO, is taking over as chief executive officer
Stephen Garvey, Glenveagh COO, is taking over as chief executive officer

Irish listed homebuilder, Glenveagh Properties, has announced that Justin Bickle is standing down as CEO and Director of the company.

Mr Bickle said he was returning to live in the UK having spent much of the last decade living in Ireland.

Glenveigh has announced that current chief operating officer, Stephen Garvey, will be taking over as CEO.

The group has also confirmed that Dalata Hotel Group CEO Pat McCann is to join the board as non-executive director, as is Cara Ryan.

"I would like to thank Justin very much for his invaluable contribution to Glenveagh since its inception," John Mulcahy, chairman of Glenveagh Properties said. 

"He has been a driving force in the company, ensuring that we have grown the business strongly and it is well placed for continued success."

The announcement came as Glenveagh announced results for the half year.

The company completed 158 units in the six month period. 

Average selling price for the units was €287,000.

The Group says it's currently selling from 13 sites with 800 units sold, signed or reserved.

A net loss after tax of €3.5 million for the first six months was an improvement on the €7.2 million in the same period last year.

That was on revenue of €45.5 million.