|
Glenveagh Properties PLC on Thursday reported strong top and bottom line gains at its interim results, as the company reiterated its full-year earnings per share guidance. The Kildare, Ireland-based housebuilder reported pretax profit of €32.5 million for the six months that ended June 30, multiplying from €989,000 a year prior. Driving the improved bottom line was a more than doubling of revenue to €341.6 million from €152.2 million, as Glenveagh reported improved Homebuilding delivery volumes and increased Partnerships construction activity. Homebuilding completions advanced 93% to 566 units from 294, with Partnership completions at 339 equivalent units, more than doubling from 130. Glenveagh reported a closed and forward order book of approximately €1.4 billion, steady with the prior year. The company said this provides ‘strong visibility’ on deliveries for the remainder of the year. Shares in Glenveagh were 1.2% lower at €1.88 on Thursday morning in London. Looking ahead, Glenveagh backed its full-year earnings per share guidance of 19.5 euro cents. This represents a 14% uplift on the prior year’s 17.0 cents. ‘The first half of this year marks another period of successful execution against Glenveagh’s long-term strategy with a focus on scaling delivery, deepening public-private partnerships, and enhancing operational efficiency through innovation,’ said Chief Executive Stephen Garvey. ‘This is the first interim reporting period where our Partnerships segment has made a material contribution to group profit, reflecting the scale and momentum now embedded in that part of the business. We are an established partner of choice for the State and continue to see strong demand and a growing pipeline of opportunities. ‘We are uniquely positioned, with strong visibility on future delivery both for the balance of this year and future years, and we remain confident in our ability to deliver sustainable value creation.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
