24% rise in full-year profits for Abbey

BUILDING group Abbey has reported a 24% rise in full-year profits to just over €60 million.

The company said the profits were buoyed by the continued strength of the housing market, where output jumped from 276 homes to 407.

Construction activity in Britain weakened in the year, with the number of homes built dropping from 454 to 385. Even with this dip, group turnover increased by €26 million to €201.5m for the year to end April 2004.