Pre-tax loss but McInerney Holdings in relatively stable position

HOUSEBUILDING group McInerney Holdings has said that it is in a relatively stable position, even though latest results show a pre-tax/exceptionals loss of €12.8 million (€170.9mafter exceptional items) for the first six months of this year and a halving in the value of its Irish land bank.

However, that loss (before exceptional items) was nearly halved from the €22.08m pre-tax loss reported for the first half of last year.

The group’s loss per share – for the first half of the year – went from 23.15c to 84.77c and revenue fell from €142.2m to €80.8m.