22nd Jan 2007 07:01
McInerney Holdings PLC22 January 2007 Monday 22nd January 2007 MC INERNEY HOLDINGS PLC TRADING UPDATE FOR YEAR ENDED 31ST DECEMBER 2006 Ireland, Dublin: McInerney Holdings plc ('McInerney' or 'Group') today releaseda trading update for the year ending 31st December 2006. The trading highlightsrecord a strong performance across all divisions. Preliminary financial resultsfor the Group will be published on 26th February 2007. 2006 Trading Highlights: • Total private and contracting residential completions for the Group(Ireland, UK and Spain) increased by 18% to 2,372 units, compared to 2,013 unitsin 2005. • Total private housing deposits on hand as at 31st December 2006amounted to 836 (Ireland, UK and Spain). • The Group's commercial division Hillview Developments (Ireland and UK)completed 13,108 sq metres of industrial units compared to 15,339 sq metres in2005. At year end there were 5,150 sq metres of reservations on hand. Ireland: • Private house completions in Ireland were 1,025 in 2006 compared to1,138 in 2005. The Group operated on 35 housing sites in Ireland. Entering 2007the Irish division had 380 private housing deposits on hand. • The Irish contracting business completed 309 housing units comparedwith 182 in 2005. UK • Private house completions were 980 in 2006 as compared to 658 in 2005,an increase of almost 50%. The Group operated on 58 private housing sites acrossthe North and Midlands of England. At year end, the UK division had 438 depositson hand. Spain • McInerney Spain completed 53 units in 2006 as compared to 35 units in2005. At year end deposits on hand were 18. Barry O'Connor, Managing Director, McInerney Holdings plc, stated 2006 was amilestone for the Group with strong progress delivered across all divisions andsignificant scale achieved in the output of the UK business in particular. "The Group is very well positioned for 2007. The positive impact of ouracquisition strategy has provided a significant base of operations in the UK.The fundamentals are strong across all our regions. Our focus on securingstrong market presence in key areas of solid demand with appropriate product mixis showing results. We expect to see further progress across the Group'soperations in the year ahead," stated Barry O'Connor. ENDS FOR INFORMATION: Siobhan Molloy Tel: +353 1 676 01 68 Weber Shandwick or +353 86 817 50 66 About McInerney Holdings plc McInerney Holdings plc is one of Ireland's leading development companies, withdivisions specialising in various aspects of the construction market. McInerneyHoldings plc comprises four divisions operating in Ireland, Spain and the UnitedKingdom. The company is Ireland's largest national homebuilder and a significanthouse builder in the UK. It also undertakes extensive commercial and leisureprojects both in Ireland and abroad. The company is listed on the Dublin andLondon Stock Exchanges (ISE: MCI.I/LSE: MCI). See www.mcinerney.ie for furtherinformation. This announcement has been issued through the Companies Announcement Service of the Irish Stock Exchange. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Medcaw Investm.