Green Property has reported a 77 per cent rise in pre-tax profits to £21.4 million (€27.1 million) for 1998 on the back of strong returns in the Republic, particularly from its retail development at Blanchardstown, Co Dublin. The company's turnover rose by 62 per cent to £42.7 million (€54.2 million), while earnings per share increased to 17.34p (22.03 cents) from 15.88p (20.16)

The company said its biggest challenge this year - the slowdown in Britain's economy - would not affect it adversely because tenant demand in its sectors remained strong.