Abbey fails to build momentum

You would have to go a long way to find an unhappy builder in Ireland these days but there were some glum faces at the Irish-registered housebuilding group Abbey last week.

You would have to go a long way to find an unhappy builder in Ireland these days but there were some glum faces at the Irish-registered housebuilding group Abbey last week.

The announcement of a disappointing set of annual results for the 12 months to April 30, 2006 was the trigger for a 9 per cent slide in Abbey’s share price on Thursday.

Shares in Abbey finished at €8.56 on Friday, down 16 ...