Household Goods
By Iain Gilbert
Date: Tuesday 26 Oct 2021
LONDON (ShareCast) - (Sharecast News) - Irish homebuilder Cairn Homes said on Thursday that both interim revenue and profits had surged in the six months ended 30 June.
Cairn Homes posted a 61% year-on-year rise in revenues to €130.6m in the period, with gross profits up 86% at €24.2m and operating profits up 102% at €11.7m
Gross margins were up 240 basis points at 18.5% and operating margins were 180% basis points higher at 8.9%.
The London-listed firm also posted earnings per share of 0.85 cents, a marked improvement on the 0.16 cents per share reported at the same time a year earlier.
Net asset value per share was broadly flat at €1.01, while total equity was up €8.6m at €759.2m and net debt was 18.9% lower at €149.4m.
Cairn also stated it was recommencing its annual ordinary dividend programme and declared an interim dividend of 2.66 cents per ordinary share.
Chief executive Michael Stanley said: "Cairn has never been better positioned to play a leading role in the recovery of the housing market in Ireland. We have grown our order book from €214 million in January to a current high for our business of €655m and we will deliver 2,550 quality-built family homes between this year and next.
"We will continue to leverage our scale and capabilities to deliver competitively priced starter homes for first-time buyers. As we report today, our average selling price for these starter homes has remained largely unchanged at €371,000, including VAT."
As of 0950 BST, Cairn shares were down 0.15% at 96.85p
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Currency | UK Pounds |
Share Price | 135.80p |
Change Today | 2.20p |
% Change | 1.65 % |
52 Week High | 141.40p |
52 Week Low | 89.30p |
Volume | 258,158 |
Shares Issued | 647.65m |
Market Cap | £879.51m |
RiskGrade | 208 |
Value |
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Price Trend |
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Income |
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Growth |
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Latest | Previous | |
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Final | Interim | |
Ex-Div | 25-Apr-24 | 14-Sep-23 |
Paid | 17-May-24 | 06-Oct-23 |
Amount | 3.20¢ | 3.10¢ |
Time | Volume / Share Price |
16:35 | 36,483 @ 135.80p |
16:35 | 35 @ 135.80p |
16:35 | 77 @ 135.80p |
16:35 | 353 @ 135.80p |
16:35 | 1,720 @ 135.80p |
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