Home builder Cairn Homes said today it sees full year turnover of over €650m from 1,750 to 1,800 new home sales.
In a trading update for the six months to the end of June, Cairn Homes reported revenues of €215m through the sale of 535 new homes.
Cairn Homes said demand for housing has remained strong, with more than 1,100 new home sales agreed in the six month period.
The company said that sales pricing levels were relatively flat in the six month period despite persistent, if moderating, build cost inflation which is expected to be about €10,000 per unit in 2023.
It also said that all of its forecasted closed new home sales in 2023 and nearly 90% of its expected closings in 2024 have full planning permission.
This will underpin Cairn's continued growth as the company makes progress towards its 15% Return on Equity target, it added.
Cairn said it intends to announce a 3.1 cent interim dividend per ordinary share at interim results in September.
Its €40m share buyback programme also continues with 21.2 million ordinary shares repurchased at an average purchase price of €1.06 per share since March 3.
Michael Stanley, Cairn's chief executive, said the company was on course to significantly increase its housing delivery by up to 20% targeting between 1,750 and 1,800 new home sales this year.
"We are proud to be delivering this volume of high quality, energy efficient A-rated new homes to our customers," he added.
