Profit at State’s largest landlord halves despite rent increases

Ires Reit eyes Brexit prospects, and points to ‘large mismatch’ in supply and demand

Ires Reit chairman Declan Moylan and CEO Margaret Sweeney at last year’s AGM. Photograph Nick Bradshaw / The Irish Times

Ires Reit chairman Declan Moylan and CEO Margaret Sweeney at last year’s AGM. Photograph Nick Bradshaw / The Irish Times

Profit at Ires Reit, the largest landlord in the State, more than halved in the first six months of the year despite an increase in rental income, its interim report shows.

The Dublin-listed company, led by chief executive Margaret Sweeney, saw profits for the six months to June 30th, 2018, fall to €34.1 million, which was down from €69.5 million compared with the same period the year before.

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