Cairn Homes lifts annual output to 2,365 new homes as revenue and profits climb

The company said the rise in completions helped drive a 10% increase in revenue to €944.6m.

Cairn Homes completed 2,365 new homes last year, up from 2,241 the previous year, as the builder reported higher revenues, stronger profits and a record forward order book.

The company said the rise in completions helped drive a 10% increase in revenue to €944.6m, with operating profit climbing 12% to €168.6m. Net profit grew to €132.7m, up from €114.6m.

The average selling prices rose to €392,000, a change the company attributed mainly to product mix rather than market inflation.

Cairn is one of Ireland's largest home builders, completing projects like Bayly on Cork's Carr's Hill. Construction is currently underway for a major residential apartment scheme on the former CMP site on the Kinsale Road.

The planned residential development on Cork's Kinsale Road.nd Kinsale Road. Illustrations Pedersen Focus

Cairn said demand remained “exceptionally strong,” particularly from first‑time buyers, with private developments averaging 4.2 sales per active site per week and 11 new schemes launched during the year.

A surge in sales momentum carried into early 2026, the company said, with its closed and forward order book rising to 3,452 homes worth €1.32bn, a one‑third increase on the previous year.

The group continued to expand its construction footprint, remaining active on 25 sites and investing €800.8m in work‑in‑progress during the year. It also secured 11 new planning permissions for more than 3,650 homes and added to a landbank and pipeline capable of delivering up to 24,400 future units, including options.

Cairn said it has now sold more than 12,000 homes since 2015 and plans to accelerate output further. It upgraded its 2026 guidance to forecast revenues of €1.05bn–€1.08bn and operating profit of €180m–€185m, and projected delivery of about 6,000 homes across 2026 and 2027, including 3,200 in 2027.

Chief executive Michael Stanley said affordability remained the central challenge in the Irish market, and the company would continue to focus on cost control to keep prices competitive. He noted that Cairn’s average prices had risen just 5% over five years, compared with a 29% increase in new‑home prices across the wider market.