Glenveagh profits hit €63 million as sales of suburban homes surge
Housebuilder said it had shielded itself from construction inflation but called on the government for ‘meaningful action’ to deal with acute shortages
Glenveagh posted revenues of €644.7 million in 2022, a 35 per cent increase on the year before, the housebuilder has confirmed.
In its full-year results for 2022, published this morning, Glenveagh said it had effectively shielded itself from the effects of high construction costs and closed out the year with pre-tax profits of €63 million – a 38 per cent jump year on year.
The company’s gross margin was 16.8 per cent, a slight decline ...