Homebuilder Cairn revenue jumps on chronic supply shortages and changes in the mortgage market

So far this year, Cairn closed around 900 property sales, up from 535 in the first half of last year, and posted €365m in revenue which is a 66% jump compared to the same period in 2023.

Michael Stanley, Cairn chief executive.

Homebuilder Cairn shares surged over 7% after it posted a jump in revenue for the first half of the year on exceptional demand amid a chronic lack of housing supply.

The company its reiterated guidance for the year and said it expects to post operating profit €145m for the year and deliver 30% year-on-year growth in housing output.