herald

Monday 5 December 2016

Profits soar to €49m at Abbey

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Profits at home-builder Abbey more than doubled to €49.1m during its last financial year as it was boosted by "brisk" demand in the UK and an improving outlook in Ireland.

The profits for the 12 months to the end of April were significantly ahead of analyst expectations.

Davy Stockbrokers had expected the stockmarket- listed firm to generate profits of €35.4m.

Analyst Colin Sheridan described the performance as "stellar".

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