Prospects dull despite return to profitability, says Abbey Group

IRISH housebuilding group Abbey has said that its prospects remain dull, even after a good first half which saw a year-on-year swing from loss to profit.

The Co Meath-headquartered group yesterday reported pre-tax profits of €3.6 million for the six months to the end of October.

This compares favourably to a pre-tax loss of €5.4m for the same period last year. First half operating profits came in at just under €2.5m, up from an operating loss of €5.88m for the corresponding period last year.