Glenveagh Properties

Sold out for 2021; new RoE target ahead of expectations and €75m buyback announced

  • Sectors : Construction and Housebuilding
  • Companies : Glenveagh Properties

Ratings and price correct at time of issue.

  • Glenveagh Properties

    Closing Price: 93.7c

  • RATING 10/11/17

  • PREVIOUS RATING N/A

DAVY VIEW

Evidence of the strong housing market in Ireland can be seen in the order book for Glenveagh Properties, which is now full for all of 2021. The company’s growth ambitions are as strong as ever, with 3,000 units expected in 2024 and further growth expected beyond. A strong new 15% return on equity (RoE) target has been set (Davy: 14.2%) and Glenveagh has announced its first shareholder returns, with a €75m buyback due to start this week.

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May 27 2021, 07:15 IST/BST

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