House builder McInerneys expect another strong year in the Irish property and sees no let-up in demand for new houses.
McInerneys' chairman Ned O'Sullivan told shareholders at the company's AGM today that strong market demand for housing is being driven by employment, demographics and inward migration and these trends show no sign of diminishing.
"We remain well positioned to capitalise on these trends," he said.
The group's house building business increased its profits by 28 per cent in 2005 as it completed a record 1,138 private homes with a similar number this year.
The company has a landbank of 4,700 plots across the country having recently bought new sites in Macroom, Athlone and Athy.
McInerneys' commercial division, Hillview Developments sold over 14,000 square metres of industrial units in Ireland as compared to 4,666 square metres in 2004.
Mr O'Sullivan also told the meeting that the company has a good level of sales on hand and confidently expect another good year of earnings in Spain in 2006.