Cairn Homes revenue falls to €280m in first half of 2025 

Homebuilder welcomed strong private sales which increased its multi-year closed and forward order book to some 3,700 new homes

Michael Stanley, Chief Executive Officer of Cairn Homes.

Irish property developer Cairn Homes reported revenue of €280m in the first six months of 2025, down from €366m in the same period last year following a decline in the number of units delivered. 

In a trading statement published on Wednesday, the homebuilder reported revenue from around 700 units, which was down from 894 units in the first six months of 2024.

The company reaffirmed its full-year guidance, forecasting revenue growth in excess of 10% and an operating profit of around €160m.

The homebuilder welcomed strong private sales in the period, which increased its multi-year closed and forward order book to some 3,700 new homes with a net sale value of around €1.4bn.

Cairn launched eight new schemes in the first six months of this year across Dublin, Kildare, Meath, Cork and Galway, with strong demand from its core First-Time Buyer (FTB) market. 

This included the launch of its first Croí Cónaithe approved apartment development in Douglas, Cork, with Cairn welcoming the Government initiative to support private ownership of apartments.

The developer also announced continued progress in its land acquisition strategy and agreed to acquire land which will deliver around 2,000 homes, which will be primarily for FTBs in the medium term. It also said it has progressed joint venture arrangements and option agreements to secure an additional 1,500 units.

Cairn said its board also intends to announce a 4.1c interim dividend per ordinary share at its interim results on September 3, 2025, an 8% increase compared to its full-year results for 2024. 

“We have witnessed exceptional demand in the year to date, including in our numerous private sales launches this spring and early summer sales season," said chief executive Michael Stanley. 

"We were also encouraged to see such strong support for our first Croí Cónaithe development in Cork, from first-time buyers seeking affordable private ownership of apartments."

The CEO also welcomed new amendments to apartment design guidelines announced by the Government this week, which he said will reduce costs and affordable rents for new cost-rental apartments. 

Shares in Cairn were up 1.17% on Wednesday morning from the previous close following the release of its half-year trading statement.