Cairn Homes profits and revenues fall due to Covid

Plans to commence construction on seven new sites this year

A Computer-generated image showing the Ballybrack Greenway at the planned new housing development at Castletreasure near Douglas. Picture: Cairn Homes Ltd.

Revenues and profits at Irish building company Cairn Homes fell last year due to the impact of the Covid-19 restrictions.

The company completed the sale of 743 homes compared to 1,080 in 2019. As a result, revenues fell to €261.9m from €453.3 in 2019. However, Cairn said it plans to achieve up to 1,050 sales this year assuming their construction sites can reopen on April 6.