Real Estate Opportunities returns to profit in first half

IRISH-controlled property development company, Real Estate Opportunities (REO) has posted a first half pre-tax profit of just under £119 million (€136.6m) for the six months to the end of August.

The figure for the UK/Irish-focused company — which is controlled by Treasury Holdings — represents a significant return to profit for the period.

In the first half of the company’s last financial year, REO posted a pre-tax loss of just over £47.4m.