Company Update 07/05/2020
We continue to be committed to meeting our customers' needs by providing a safe yet, first-class service during these challenging times.
Aligned with Government and industry body recommendations the Group has implemented enhanced health and safety practices across our sites to limit the spread of COVID-19.
These measures combined with the classification of construction as a permitted activity have facilitated a phased recommencement of work on our sites from May 18th.
Whilst our show homes are currently closed, our sales team and agents are facilitating interactive virtual tours of our developments. Whether you are a new home buyer or an existing customer, please contact our team - email@example.com or visit Glenveagh.ie for more information.
Reflective of our continued support of the Group’s wider stakeholders, we continue to make significant payments to support our subcontractor and supplier network who are also dealing with this challenging environment. Where necessary we will continue to support the Group’s subcontractor network as we commence a phased return to work on site.
From May 18th construction commenced on a number of our sites and will resume on approximately 80% of the Group's locations with activity focused on completing units which are signed or reserved and are capable of completion within a short timeframe.
The safety of our employees, our sub-contractors and our customers are foremost in our mind at this time. We fully support the unprecedented steps which the Government has taken to protect public health and to limit the spread of COVID-19. From a business perspective, while we are likely to experience a challenging near-term environment, our strong balance sheet and customer profile (balanced across private, state and institutional buyers) leaves Glenveagh in the strongest possible position to deal with whatever eventualities are to come.
07 May 2020
Despite the measures implemented by the Group, Glenveagh's ability to achieve its 2020 delivery targets will be dependent on how long the advised restrictions remain in place. As a result, the Group has suspended all existing FY20 guidance until both the severity and duration of the COVID-19 impact becomes clearer.