StockMarketWire.com - Glenveagh said it had continued to trade in line with management's expectations and added that the majority of closings expected to occur in the second half.

The group's year-to-date performance was in line with the board's expectations and consistent with its strategy, the company said.

'Our objective was to secure signings and reservations in the first half of the year with the majority of closings occurring in the second half,' the company also said.

All units associated with the group's 2019 delivery target of 725 were now sold, signed or reserved with the exception of the 90 unit Herbert Hill apartment scheme where a preferred bulk sale process was expected to complete in second half of the year.

The company also announced two further development land purchases for €24m, capable of delivering 375 units.

'The strong reservation rate year-to-date demonstrates we are delivering product where it is most needed and has been welcomed by private buyers and institutional investors,' the company added.




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