Irish housebuilder Glenveagh sees sales soar in 2019

Glenveagh delivered a strong sales performance in 2019, boosting revenues to €284m (£241m), up 238% on the previous year. In a trading update for the year ended 31 December, the Irish housebuilder said it sold 844 units, up from 275 the previous year. The average selling price reached €332,000 compared to €287,000 in 2018. Glenveagh’s chief executive Stephen Garvey commented: “In our second full year of trading it has been another strong performance for the group both operationally and financially as we continue to meet our targets, delivering three times the number of unit completions from one year ago. We have completed our net investment in land, grown our operations consistent with our business plan and remain focused on driving further return on capital improvements as the business continues to scale.” The firm will publish its full-year results on 28 February 2020. To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette