Cairn Homes toasts jump in revenue and profit

Irish housebuilder Cairn Homes has reported a rise in revenue and profit in its results for the year ending 31 December 2024. Cairn’s revenue rose by 29% to €860m, up from €666.8m (£560m) in 2023. Operating profit rose from €113.4m in 2023 to €150m in 2024. This exceeded its expectation of €145m. In the same period, Cairn developed 4,100 homes, including 10 large-scale developments, up from 2,162 homes in 2023. The Irish housebuilder’s average selling price during the period was €383,000, a fall from 2023’s average selling price of €389,000. Michael Stanley, chief executive at Cairn Homes, said: “We grew our business by 30% in a very successful 2024. This represents the biggest annual step-up in operational and volume growth since the company was established. “Cairn’s scaled platform, strong balance sheet and our continual reinvestment will support further significant growth in housing output in 2025. Entering our 10th year in business, we are proud that nearly 30,000 residents now live in a Cairn-built home.” Stanley added: “With the imminent formation of a new government, intense focus will quickly shift to housing policy. While this remains a complex and multi-faceted challenge, the new government must continue to prioritise essential affordable housing delivery.”