Abbey plc has reported a profit of €24.1m before taxation for the year ended 30 April 2014. This compares to a profit of €11.3m in the previous year.

The group's housebuilding operations completed 390 sales (UK 353; Ireland 22, CZK 15) with a turnover of €99.3m, generating an operating profit of €18.2m.

"Trading in the UK was good during the period," the firm said in a statement. "Sales, supported by the government's 'Help to Buy' Scheme, were buoyant. Price increases moderated by increasing building costs supported our margins. The current year has continued in the same vein and our forward sales position is underpinning our planned growth this year."

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At the year end, the UK division owned and controlled land with planning permission for 1,320 plots. In Ireland, the re-launch of the business "has gone well," the group added.

Abbey's project in Shankill is sold out. The first phase on the project in Stocking Wood is also fully reserved.

At the year end, the Group owned and controlled land with the benefit of planning permission for the supply of 1,858 plots. Rental income during the year was €844,000.

In addition, the Group held €30.5m in cash together with €22.4 m in UK government bonds at the end of the financial year.

(IT/JP)