Cairn Homes says inflation added €20,000 to its units

In a trading update for the year to the end of December, Cairn Homes said that inflation persisted into the second half of 2022 - but at more moderate levels.

With this level of performance, Cairn Homes said it is comfortable with its existing 2022 profitability guidance of 21.5% gross margin, €100m operating profit and a 16.5% operating margin. In 2022, Cairn was one of the largest providers of new social and affordable housing in Ireland as it delivered almost 500 A-rated homes, including a substantial number of apartments in its larger developments.

Cairn said it is starting 2023 with its largest ever forward sales pipeline of over 1,100 new homes and said it was confident of making further financial progress in the year ahead. Mr Stanley said that looking at the wider market, Ireland has increased its working population by 500,000 to over 2.5 million people in the last six years.

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