Cairn Homes to hold off on Cork projects

Cairn Homes is to hold off on progressing its Cork-based landbank for another couple of years as it looks to maintain its entire focus on the Greater Dublin area in the near-term.

The publicly quoted housebuilder has land in Cork, Kilkenny and Galway and said despite the current Dublin focus it still harbours national ambitions. Cairn grew revenues by 125% last year to €337m and saw operating profit increase by 267% to €53.2m. It also lowered its net debt by €25m to €134.4m.