McInerney warns shareholders of impending half-year loss

MCINERNEY Holdings, the house builder active in Ireland, Britain and Spain, warned shareholders to prepare for a first-half loss in the current year.

Addressing the firm’s annual general meeting, chairman Ned Sullivan said: “We expect to record a profit for the year as a whole, with a loss in the first half of 2008.”

Responding to questions from the floor, Mr Sullivan said the were a number of key issues undermining the outlook for house building.