Abbey, the house-building group, is planning to expand further into the Irish market and is considering setting up a plant hire operation in the Republic. Mr Charles Gallagher, chairman, told the company's annual general meeting that the property market in Ireland remained very strong and there were great opportunities available.

He told The Irish Times, the company was "very seriously" looking at setting up a plant hire operation in the Republic.

Abbey currently has a plant hire operation in Britain, which last year had a turnover of £10 million and operating profits of £280,000.

He said one way to enter the market would be to acquire an existing plant hire operation. Abbey, he said, was "in the market" for land in various areas and was interested in acquiring a large office property in the centre of Dublin.

Overall, he said the company's focus was on "slow steady progress in British markets", while undertaking an ambitious "expansion programme in Ireland".