Cairn Homes rise on higher margins

Shares in Cairn Homes rose over 1.5%, as the Dublin housebuilder increased sales and boosted margins. It indicated it was on course to sell significantly more homes, amid the huge demand for housing.

Its sales count in the first half of the year was 94 homes, and forward sales increased to 474 units, the firm said.

All of its 33 sites, which include the one in Montrose it purchased from RTÉ this summer, could deliver 12,700 homes. Originally floated in London, the shares have been listed in Dublin this summer.