Delays in new building projects have dented half-year profits at house builder Abbey.
Pre-tax profits for the six months to October 31st 2001 were €14.56 million compared to €18.7 million in the equivalent period in 2000.
The group said it is expecting more completions in the second half and is trading in line with these expectations.
"Irish sales have been steady for the time of year and prospects for 2002 look brighter than for the year just passed," a company statement said.
House sales in Britain improved towards Christmas as the uncertainties following September 11th disappeared into the background, the group said. "Overall, the group is in good heart and confident of a strong second half," the statement said.
Abbey declared an interim dividend of 6.5 cent per share. This dividend will be paid on February 20th to shareholders on the register at January 18th, 2002