Dublin-listed builder McInerney Holdings singled out the performance of its Irish contracting business in a trading statement issued yesterday.

It said the turnover at the division - which builds houses for other developers - topped €50 million last year.

McInerney said its Irish contracting business boosted operations in 2005, completing 182 houses, as against 116 in 2004.

"Total contracting turnover from housing and commercial contracts rose from €24 million to in excess of €50 million," McInerney said. "Further growth is expected in 2006."

The company said the number of houses completed on its own developments in the Republic, UK and Spain was 1,831 houses in 2005, compared to 1,614 the previous year, an increase of 13 per cent.

Private house completions in the Republic rose to 1,138 from 1,101; in the UK they rose 32 per cent to 658 from 500, and in Spain they increased to 35 from 13.

McInerney is now operating on 38 private housing sites in the north of England.

The group said that entering 2006, it had received deposits for 895 houses, including 551 in the Republic, 278 in the UK and 66 in Spain.

McInerney said its its commercial division, Hillview Securities, handed over 15,339sq m of industrial units across the UK and the Republic during the year. This was almost double the 8,289sq m handed over during 2004.

"It (Hillview) is witnessing continued robust demand for industrial units across its UK and Irish commercial sites, with a strong level of reservations on hand for 2006," the group's statement said.

Managing director, Barry O'Connor, said yesterday the group was "comfortable" with market expectations for its 2005 earnings. Analysts forecast revenues of €476 million, pretax profit of €50 million and earnings per share of 119.5 cent.

"Good demand is being experienced in the Irish and UK housing markets," he said. "Our UK business picked up steadily throughout the second half of the year and unit growth was over 30 per cent. "