We released our FY21 Trading Update to the market today reflecting outperformance for 2021, significantly upgraded guidance for 2022 and we also announced a €75m Share Buyback Programme.
Commenting on the full year 2021 trading update, Michael Stanley, Chief Executive Officer, said:
“I am pleased to say that we have delivered on all of our business objectives for 2021 despite the impact of public health restrictions early in the year which closed construction sites across Ireland. We achieved a key milestone in the second half of the year when we sold our 5,000th new home since we commenced business in 2015.
This year, we will support over 3,000 full time positions on 22 active sites, building high quality, sustainable new homes on well located developments with full planning permission. The trajectory of the business has enabled us to upgrade our guidance for 2022. We now plan to close 1,500 sales, boosting revenues to over €600 million, while also significantly increasing operating cashflow from prior guidance.”