Shares in Abbey surged after the property firm said it doubled its full year pre-tax profit. The company's pre-tax profit was up 204% from €49.1 m to €24.1m, which after tax equated to earnings per share of 184.02 cents. Abbey said the company completed 557 sales, supported by buoyant UK sales due
Holding group Abbey said strong sales in the housebuilding division and good trading in its UK plant hire arm boosted pre-tax profit in the first half. Pre-tax profit in the six months to the end of October rose from €7.7m to €16.7m. Revenue in the firm's housebuilding division rose from €39.3m to
Gallagher Holdings, a metals firm owned by Russian oligarch Alisher Usmanov, has launched a takeover bid for Irish property developer Abbey. Usmanov's firm upped its shareholding in Abbey from 47.2% to 51.6% on Wednesday, triggering a mandatory offer for the firm under Irish Takeover Rules. The ru
The property developer Abbey has reported profits up for the 12 months to the end of April but is warning margins will remain under pressure. Profits before tax for the full year were €12.1m against €11.5m in the previous year. After a tax charge of €3.2m the group made a profit of €8.9m reflecting
Abbey's shares took a hit after the residential housing developer revealed that its pre-tax profit fell from €3.35m to €5.55m for the six months ended 31 October. Profits at the operating level were €2.27m as compared to €4.38m at the half way stage last year. The firm's housebuilding division c
Irish housebuilder Abbey plans to buy back up to 15% of its shares. Abbey had €51.8m in the bank and €52.1m in financial instruments at the end of April 2010. These cash assets are almost equal to Abbey's market value. At the current share price of €4.40, 15% of the company will cost around €17m.
Scottish cake and sweet maker Lees Foods has reached an 'amicable settlement' with the former directors of Patisserie UK after a dispute over the disappointing performance of the pastry supplier following its acquisition by Lees. Under the terms of the settlement, Lees will receive about £225,000,
Housebuilder Abbey scrapped its dividend as it swung to a full year pre-tax loss of €54.4m compared with a profit of €16.8m in the previous year. Group operating losses during the year were €55.6m in the year ended 30 April against a profit of €15.1m last time. The group said the result has been '