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Cairn Homes PLC on Tuesday said that hundreds of thousands of young people in Ireland are trying to climb the housing latter, boosting its revenue and profit. The Dublin-based housebuilder said revenue surged 29% to €860.0 million in 2024 from €666.8 million in 2023. Operating profit jumped 32% to £150.0 million from £113.4 million. The company’s average selling price net of value added tax was €383,000 in 2024, down 1.5% from €389,000 in 2023. The gross margin reduced to 21.7% from 22.1%. ‘This is reflective of a significant step-up in the delivery of competitively priced affordable homes for our State partners,’ Cairn highlighted. Chief Executive Officer Michael Stanley, noting that now 30,000 residents live in a Cairn built home, said: ‘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. ‘The current suite of well-designed affordable housing initiatives include Croi Conaithe, Local Authority Affordable Purchase & Cost Rental accommodation, CREL. These proven and effective measures are however currently sub-scale, in need of increased investment, broader awareness and support.’ CEO Stanley added: ‘Ireland’s stuck middle is made up of hundreds of thousands of young working people, desperately trying to avail of the new homes which these affordable housing initiatives can deliver.’ Cairn Homes shares rose 0.9% to 176.50 pence each on Tuesday morning in London, giving it a market capitalisation of £1.10 billion. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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