Cairn Homes first-half sales and profits jump

Cairn Homes first-half sales and profits jump
Cairn Homes boss Michael Stanley

The housebuilder reported a 157% surge in revenue as it completed 94 sales in the first six months

Housebuilder Cairn Homes, which joined the Irish Stock Exchange in July, said gross profit surged by 191 per cent to €7.7 million in the first half as its sales increased by 157 per cent to €41.2 million.

Residential property sales accounted for €26.3 million of this, as the company completed 94 sales compared to 39 in the same period a year earlier, while it also realised €14.1 million from non-core site sales. Cairn, which listed in London two years...

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