Profit at Cairn Homes up over 12% following strong performance during second half of 2025

Cairn Homes chief executive Michael Stanley. 

Homebuilder Cairn Homes has seen gains in both revenue and operating profit during 2025 following a strong performance during the second half of the year, the company said in a trading update.

According to the update, the company generated revenue of €945m during 2025, an increase of 9.9%, while operating profit increased by 12.3% to €168.5m. The period July to December alone generated €660m in revenue and €126m in operating profit.

Build cost inflation for the company was around 1%.

During the year, it acquired land which it expects to deliver 4,500 new homes primarily for the private market in the medium term.

The company’s forward order book increased to over 3,000 new homes with a net sales value of around.€1.15bn, an increase from 2,361 new homes and a value of around €910m last year.

It said its housing delivery will also increase “substantially” over the coming years as it anticipates its total output will reach 6,000 new homes between 2026 and 2027.

The company reaffirmed its guidance for the year that it will generate between €1.02bn and €1.05bn in revenue, while operating profit will be between €175m and €180m.

Chief executive of Cairn Homes Michael Stanley said it is “unlikely that Ireland has ever witnessed the current level of demand for residential homes” which has resulted from a decade of significant undersupply of new housing”.

“Cairn has made substantial investments in our growth opportunity. In 2025, we incurred our largest ever outlay in construction activities and new site commencements. We also acquired new near-term development land in Cork, Galway, Dublin and surrounding counties, and entered into new joint ventures and partnerships,” he said.

The company said it now has developments with over 4,000 apartments under construction, including cost rental, social, affordable purchase, Croí Cónaithe, age friendly housing and for other private purchasers.

“Larger apartment schemes under construction for our State funded partners are now being delivered at Vat inclusive average selling prices in the low €400,000’s. This clearly proves that apartments built to very high quality and energy efficiency standards can be constructed in Ireland at similar costs to comparable apartments in other European countries,” Mr Stanley said.