Cairn Homes (LSE:CRN), the housebuilder reported first-half revenue of approximately €450 million from around 1,130 units, a 60% increase on the €284.5 million generated from 708 units in the same period of 2025.
The strong volume growth has driven cash generation and underpins full-year guidance of €1.05 billion to €1.08 billion in revenue and operating profit of €180 million to €185 million, both reiterated on Tuesday.
The closed and forward order book grew to approximately 4,800 homes with a net sales value of €1.8 billion, supported by average weekly sales of 100 units since the company's last trading update at the end of April.
Build cost inflation remained controlled at approximately 2.5% year to date, with the company active across 26 sites in the Greater Dublin Area, Cork and Galway following five new site commencements in the first half.
"Our closed and forward order book stands at c.4,800 homes with a value of €1.8 billion, giving us confidence in our growth trajectory," said Chief Executive Michael Stanley.
Cairn said investment in its landbank and construction work-in-progress has now reached a level that supports its growth plans, and the company expects to update on capital allocation in September.
The company targets delivery of approximately 6,000 new homes across 2026 and 2027, including around 3,200 in 2027, representing a 35% increase in output over the two-year period.
Interim results are scheduled for 2 September.
