Abbey 'on track' for profit increase

House building group Abbey says first-half financial performance may beat that of last year

Abbey chairman Charles Gallagher.

Irish house building group Abbey has said its first-half financial performance may beat that of last year, with trading over the summer months having been positive.

In its latest trading statement, Abbey said it is “on track” to at least match and potentially beat last year’s first-half turnover and profit. 

Over the six months to the end of October 2019, the group —which is active across Ireland, the UK, and the Czech Republic — generated revenues of just under €104m and operating profits of €21.4m.

Abbey said its UK performance has been boosted by the British government’s help-to-buy scheme and its Irish sales are ahead of last year, with demand boosted by government support for first-time buyers.