Building company McInerneys has reported a pick-up in the UK property market and said it was comfortable with market forecasts for full year profits.
In a trading statement issued this morning the company said private house completions increased by 13 per cent to 1,831 in 2005, compared to 1,614 units at year end 2004.
"As we enter 2006, our market presence is in key areas of solid demand and our product strategy is well placed. Good demand is being experienced in the Irish and UK housing markets," said Barry O'Connor, McInerney's managing director.
"As we previously indicated, our UK business picked up steadily throughout the second half of the year and unit growth was over 30 per cent. We would expect 2006 to see further operational increases in our UK business as new regions commence output," he added.
McInerneys said its commercial division, Hillview Securities, is witnessing robust demand for industrial units across its UK and Irish commercial sites, with a strong level of reservations on hand for 2006.