Home builder Glenveagh posts 89% drop in profits as urban revenues fall

Revenue fell by 14% to €171.6m in the first six months of 2023, with urban revenue dropping by 44% in the same period

Stephen Garvey, CEO of Glenveagh Properties. Photo: Fennell Photography.

Irish home builder, Glenveagh Properties saw pre-tax profits fall by almost 90% in the first six months of 2023.

The group posted a pre-tax profit of €1.4m in the first half of this year, down from €13m in the same period in 2022.