StockMarketWire.com - Abbey reported a fall in first-half profits as the sale of more lower-priced homes kept margins in check amid 'patchy' market conditions.

For the six months ended 31 October 2019, pre-tax profit fell to €21.45m from €23.93m last year. Rental income for the period amounted to €535K.

The company completed 293 sales during the half - 233 in the UK, 36 in Ireland and 24 in Czechia - with a turnover of €92.45m generating an operating profit of €19.9m.

M & J Engineers, its UK plant hire business, delivered a lower contribution to the company's overall performance, generating operating profits of €923K on a turnover of €10.51m.

No immediate improvement was likely and a difficult second half was in prospect, the company said.

At 9:36am: [LON:ABBY] Abbey PLC share price was -10p at 1210p



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