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Glenveagh Properties slashed its half-yearly losses amid a surge in revenue as the Irish homebuilder ramped up sales at higher prices.
For the period ended 30 June 2019, pre-tax losses narrowed to €3.75m from €8.17m a year earlier and revenue rose to €45.5m from €1.3m.
The company sold 158 homes, up markedly from the 6 sold last year, driven by starter-home developments at an average selling price of €287,000, up from €199,000 a year earlier.
'The company is well-positioned to deliver a successful outcome for the year and the Board remains confident that results will be in line with its expectations,' Glenveagh Properties said.