Cairn Homes, an Irish residential property developer, reported a 75% surge in operating profit for the six months ended June 30, driven by a 60% increase in revenue and higher home completions.
The company posted operating profit of €74.8 million, up from €42.7 million a year earlier, while revenue rose to €455.5 million from €284.5 million. Gross profit increased 54% to €96.9 million, and basic earnings per share climbed 82% to 9.3 cents. Operating margins widened to 16.4% from 15.0%, reflecting improved operational efficiency.
Home deliveries totaled 1,139 units, lifting the net average selling price to €393,000 from €387,000. The company’s closed and forward order book stood at 5,020 units valued at €1.89 billion as of September 1, 2026, compared with 4,092 units worth €1.54 billion a year prior. The private weekly sales rate averaged 3.7 new homes across selling sites in the first half of 2026, supported by eight new private launches.
Net debt declined to €194.5 million from €307.4 million, while operating cash flow improved to a positive €22.4 million, reversing a €118.6 million outflow in the prior period. The company raised its interim dividend per share to 4.5 cents from 4.1 cents.
Cairn Homes also announced a €50 million share buyback program and raised its return on equity guidance to approximately 17.0% from 16.5%. Full-year revenue guidance was increased to around €1.08 billion, while operating profit was raised to about €185 million. The year-end net debt to gross asset value target was maintained at roughly 20%.
