Saturday April 4, 2020

Cairn expects more growth as operating profit rises 28%

Increased production drives up housebuilder’s annual revenues by 29% to €435.3m

3rd March, 2020
Michael Stanley: “In just over four years, 3,250 customers have chosen a Cairn home.” Picture: Feargal Ward

Cairn Homes has reported a 28 per cent increase in operating profit to €68 million for 2019.

It came on the back of a 29 per cent increase in revenues, from €337 million in 2018 to €435.3 million last year.

This was driven by increased production after the housebuilder sold 1,080 homes last year at an average price of €372,000 excluding Vat. The previous year it sold 804 houses and apartments at an average selling price of €366,000.

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