Glenveagh Properties PLC - Dublin-based housebuilder - Says it saw a strong performance on annual revenue and completions, notwithstanding Covid-19 restrictions. Revenue for 2020 expected at EUR232 million, down from EUR284 million in 2019. Says 700 unit sales completed in 2020, down from 844 units in 2019. Strong visibility on target unit deliveries of 1,150 units for 2021.
"The group's 2021 delivery target is underpinned by having all necessary sites operational, costs largely fixed and strong forward sales in place, as well as a robust balance sheet to further position the group for growth. The market backdrop remains favourable with continued significant institutional and private demand for housing, particularly starter homes, evident across the group's selling sites," the company says.
Current stock price: EUR0.86
Year-to-date change: down 2.1%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Glenveagh (GLV)