(Alliance News) - Abbey PLC on Friday said summer trading was "good" and the firm "is on track for a satisfactory year".
Speaking at the firm's annual general meeting, Executive Chair Charles Gallagher said the residential housing developer's projects in southern England have sold steadily with help from the UK government's Help-to-Buy scheme.
Help-to-Buy is intended to help first-time buyers in the UK to afford homes through shared ownership, an equity loan, and a Help-to-Buy ISA where the government boosts savings by 25%.
Moreover, in Ireland, activity has been increasing and the firm's project in Dunshaughlin Co Meath traded particularly well in the summer months.
A more recent launch in Kilcarn, Navan, was also "well received" and another Navan project, Moatnhill, is also underway.
Abbey said it "is on track for a satisfactory year", which will end in April 2020.
Shares in Abbey were untraded at 1,255.00 pence in London on Friday.
By Anna Farley; annafarley@alliancenews.com
Copyright 2019 Alliance News Limited. All Rights Reserved.