Irish housebuilder Glenveagh has increased its revenue by more than a third over the past year.
Revenue rose by 36% to €649m (£573m), from 2021’s €477m. Glenveagh said this had been largely driven by the sale of suburban properties. In 2022 it sold 1,354 suburban homes, up 50% on the 902 units sold in 2021, and 90% ahead of the 712 sold in 2019.
Chief executive Stephen Garvey said: “We made very good progress across the business in 2022 and we continue to focus on scaling our operations to deliver high-quality, sustainable homes. We have delivered strong suburban unit growth and have actively de-risked our urban land portfolio. We have also advanced our off-site manufacturing capabilities and look forward to using our sustainable and innovative manufacturing technologies to deliver for Irish homebuyers in the years to come.”
Glenveagh’s landbank value decreased to approximately €465m from €563m, with further reductions anticipated.
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