Homebuilder Cairn Homes said today it is confident on its full year guidance and is expecting revenue growth of over 10% and operating profits of about €160m.
In a trading update ahead of its AGM in Dublin today, Cairn said that 2025 to date has seen continued scaling of its operating platform and increased investment in the growing number of active sites throughout Ireland due to a "very positive" trading environment.
Cairn Homes said its closed and forward sales pipeline now stands at about 3,250 new homes with a net sales value of €1.25 billion. That compares to 2,593 closed and forward sales with a net sales value of €989m at the end of February.
The company said a focus on its core first time buyer market will result in increased half year investment and a higher proportion of its full year revenue in the second half of the year.
It said it is progressing a number of new forward sale and forward fund transactions with its State partners, adding that demand across its multiple tenures will result in its closed and forward sales pipeline continuing to grow throughout the year.
Cairn noted that build cost inflation is currently running below its expected level of about 2% and said that while it was mindful of the potential impact of changes in global trade policies, it was not witnessing any adverse effect on the business at present.
Michael Stanley, the CEO of Cairn Homes, said the company has experienced sustained, positive momentum since the start of the year, as evidenced by the growth in its order book to over 3,000 new homes.
"This is our 10th year in business and my colleagues and I are genuinely proud that over 30,000 people now live in a Cairn built home. As we embark on our second decade, our commitment to scale our delivery of high quality, energy efficient homes, in line with our core values, is stronger than ever," he added.
Shares in the company moved higher in Dublin trade today.
