Five key takeaways from Glenveagh’s trading update

The company, which develops starter homes and build-to-rent units, saw revenues fall during the pandemic but still has big plans for 2021

Bray in Co Wicklow where Glenveagh exchanged contracts for 71 apartments last month. Photo: Leon Farrell/RollingNews

Glenveagh, the listed homebuilder, has published a trading update for the year to the end of December, ahead of the publication of full-year results in late February.

Here are the five key takeaways from the update.

1. Revenues take a hit

Total revenue recorded by Glenveagh in 2020 was about €232 million, down from €284 million the previous year.

The gross margin on core units, recorded at 14 per cent, suggests a full-year gross profit ...