Cairn Homes reports 125% revenue rise in 'strong' Irish market

Marianella Rathgar Cairn Homes

Irish housebuilder Cairn Homes has reported a 125% rise in revenue year-on-year to €337m (£297.8m) as gross margins and operating profits also increased.

In a trading update showing full year results for the period to 31 December, Cairn reported it had sold 804 homes in 2018 compared to 418 in 2017

Cairn’s full year operating profit rose 266% to €54m. On 16 January the company had a forward sales pipeline of 344 units totalling €159.5m.

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