Ballymore repaid £675m of its debt to Irish bad bank Nama in the year ending 31 March 2016, according to the company’s annual report.
It posted total revenue of £555m, up from £99m in 2015, largely from property sales and construction income. All turnover came from within the UK.
The company’s profit for the year was £75.1m, down from £154.9m in 2015.
The Irish Times reported last week that Ballymore had paid back its remaining debt to Nama on 21 December. The firm’s total debt to Nama since 2010 was €3.2bn (£2.7bn).
Sean Mulryan, director of Ballymore, said that demand in the London housing market, where many of the company’s assets are concentrated, is still strong despite uncertainty surrounding Brexit negotiations.
He added that the directors would focus on delivering long-term growth performance from existing developments and land banks.
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