Builder Abbey reports pre-tax loss of €5.39m

Dublin-headquartered homebuilder Abbey PLC in interim results relased today reported a pre-tax loss of €5.39m for the six months to end October, compared to a profit of €18.20m for the corresponding period last year.

The company attributed the results to the downturn in the UK and Ireland property sector, saying market conditions in both territiories "continue to be severely impacted by the prevailing negative sentiment."