McInerney Holdings expected to report €50.4m pre-tax profit

HOUSE-building group, McInerney Holdings is expected to report full-year pre-tax profits of around €50.4 million on a turnover of around €540m for 2005, when it issues its 2005 results later this week.

Adjusted earnings per share (eps) of 115.6c are also forecast. The year-on-year eps growth, which would be of the nature of 14%, would be aided by a strong second-half performance by the company last year.

Such growth would not be insignificant as first-half earnings fell on a year-on-year basis by 38% to 26.3c per share. According to Davy Stockbrokers, in order for McInerney to achieve an overall full-year growth in eps of around 14%, earnings of 89.3c per share would be needed for the second half of the year, which would imply second-half growth of around 50%.