Cairn Homes (CDI) (CRN)

Sector:

Household Goods

143.60p
   
  • Change Today:
    -0.80p
  • 52 Week High: 148.40
  • 52 Week Low: 89.50
  • Currency: UK Pounds
  • Shares Issued: 645.78m
  • Volume: 257,385
  • Market Cap: £927.34m
  • RiskGrade: 208

Cairn Homes shares rise on bullish 2024 outlook

By Benjamin Chiou

Date: Tuesday 16 Jan 2024

LONDON (ShareCast) - (Sharecast News) - Shares in Cairn Homes rose strongly on Tuesday after the Irish housebuilder predicted a 30% jump in revenues and profits this year as its forward order book more than doubled.
In a pre-close trading update for 2023, the company said it closed 1,741 new home sales last year, up from 1,526 in 2022, generating a revenue of €665m, up from €617.4m previously.

Cairn said it made an operating profit of €113.4m, up from €103m the year before, as the operating margin improved to 17% from 16.7%.

It ended the year with a forward order book over over €900m and 2,350 homes, compared with a value of €374m at the end of 2022.

"Momentum is very strong entering the year with over 500 new homes due to close in the first three months of the year and 1,600 of our current forward sales pipeline expected to close in 2024," the company said in a statement.

"Cairn is therefore poised to deliver an exceptional output and financial performance in 2024, and expects to deliver year-on-year turnover and profit growth of c. 30%."

As a result, operating profits are expected to come in at around €415m.

'We are building record numbers of new homes and we have delivered our strongest ever operational and financial performance in 2023. Continued reinvestment in our building platform and a €900 million sales pipeline as we start the new year leaves us poised to grow our business by a further 30% in 2024," said chief executive Michael Stanley.

The stock was up 5.5% at 121.16p by 0945 GMT.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

CRN Market Data

Currency UK Pounds
Share Price 143.60p
Change Today -0.80p
% Change -0.55 %
52 Week High 148.40
52 Week Low 89.50
Volume 257,385
Shares Issued 645.78m
Market Cap £927.34m
RiskGrade 208

CRN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
12.55% above the market average12.55% above the market average12.55% above the market average12.55% above the market average12.55% above the market average
39.13% below the sector average39.13% below the sector average39.13% below the sector average39.13% below the sector average39.13% below the sector average
Price Trend
35.88% below the market average35.88% below the market average35.88% below the market average35.88% below the market average35.88% below the market average
76.00% above the sector average76.00% above the sector average76.00% above the sector average76.00% above the sector average76.00% above the sector average
Income
Market averageMarket averageMarket averageMarket averageMarket average
29.41% above the sector average29.41% above the sector average29.41% above the sector average29.41% above the sector average29.41% above the sector average
Growth
29.33% below the market average29.33% below the market average29.33% below the market average29.33% below the market average29.33% below the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

CRN Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-24 14-Sep-23
Paid 17-May-24 06-Oct-23
Amount 3.20¢ 3.10¢

Trades for 29-May-2024

Time Volume / Share Price
15:44 194 @ 143.60p
15:42 2 @ 144.00p
15:42 67 @ 144.00p
15:42 36 @ 144.00p
15:42 48 @ 144.00p

CRN Key Personnel

CEO Michael Stanley
CFO Richard Ball

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