McInerney reports profit growth at 14%

Building company McInerney Holdings today revealed that pre-tax profits in 2002 grew 14 per cent to €20.6 million.

Turnover was €258.1 million, up from €185.2 million.

The Irish house-building division remains the main contributor to group profitability having completed 1,011 private and contract housing units in 2002, up from 808 units in 2001.

The board said the performance of the group's Irish commercial division was "satisfactory", given quieter market conditions.

McInerney is proposing to pay an increased dividend of 6.25 cents gross per share, compared with 4.5 cents in 2001.