Ires Reit sees return to earnings growth following agreement with activist investor

Despite growth in earnings, the company posted a pre-tax loss of €6.7m in 2024

Ires Reit reported just over €85m in revenue, reflecting a fall of 3% on the previous year which it said was due to company disposals following a dispute with activist investors last year. Photograph: Sam Boal / RollingNews.ie

Ires Reit, the State's largest residential landlord, saw a return to earnings growth in 2024, with the company's new strategic review, agreed upon last year, starting to yield results.

However, the property investor posted a pre-tax loss of €6.7m in 2024, driven by a yield expansion of around 0.2% in the first six months of last year which saw an almost €34m non-cash fair value reduction for 2024.