Homebuilder Cairn posts jump in revenue and swells its order book

In its half year results, Cairn also said that that average sale of one its homes reached €383,000, up 4% on the selling price during the same period a year earlier.

An estimated annual delivery of between 49,400 – 81,400 new homes to 2050 is needed to meet demand especially in a high population growth scenario.

Cairn posted a jump in both revenue and operating profit as the homebuilder continues to tap the chronic demand for housing amid supply shortages.

In its half year results, Cairn revenue increased to €366m, surging 67% on the same period a year earlier, while operating profit rose to €61m, soaring 107%.