Cairn Homes Plc: H1 2022 Trading Update
Dublin / London, 5 July 2022: Cairn Homes plc (Cairn, the Company or the Group) (Euronext Dublin / LSE: CRN) today issues a Trading Update for the six months ended 30 June 2022 in advance of interim results to be announced on 8 September 2022.
Cairn Homes Plc (CRN) Cairn Homes Plc: H1 2022 Trading Update Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
Trading Update for the Six Months Ended 30 June 2022 1,264 Closed Sales in the Last 12 Months and Full Year Guidance Reiterated
Dublin / London, 5 July 2022: Cairn Homes plc (“Cairn”, “the Company” or “the Group”) (Euronext Dublin / LSE: CRN) today issues a Trading Update for the six months ended 30 June 2022 in advance of interim results to be announced on 8 September 2022.
H1 2022 Highlights
H1 2022 – General Trading Environment
New €277.5 Million Sustainability Linked Syndicate Facility
Market Guidance
Commenting on the H1 2022 trading update, Michael Stanley, Chief Executive Officer, said:
“Continued reinvestment in increased new homes output remains our core strategy. Our current performance and profitability in a challenging environment has allowed us to commence a significant number of new developments. Today, we are building in 20 separate locations nationally with 1,750 closed and forward sold new homes across these developments.
The standard and quality of new homes being built in Ireland today is appropriately high. However, rising material costs have further stretched the affordability gap for the current generation of homebuyers. In the present environment, new homes output would materially reduce without the sensible Government interventions for first time buyers, including the First Homes initiative and Croí Cónaithe.”
The Company will release our 2022 interim results on 8 September 2022.
For further information, contact:
Cairn Homes plc +353 1 696 4600 Michael Stanley, Chief Executive Officer Shane Doherty, Chief Financial Officer Ian Cahill, Head of Finance Declan Murray, Head of Investor Relations
Drury Communications +353 1 260 5000 Billy Murphy Morwenna Rice Claire Rowley
Notes to Editors Cairn Homes plc (“Cairn”) is a leading Irish homebuilder committed to building high-quality, competitively priced, sustainable new homes in great locations. At Cairn, the homeowner is at the very centre of the design process, and we strive to provide an unparalleled customer service throughout each stage of the home-buying journey. A new Cairn home is thoughtfully designed and built to last with a focus on creating shared spaces and environments where communities prosper. Cairn owns a c. 17,700 unit land bank across 37 residential development sites, over 90% of which are located in the Greater Dublin Area (“GDA”) with excellent public transport and infrastructure links.
[1] As at 4 July 2022 [2] Defined as Profit after Tax divided by Total Equity at Year End [3] Before any capital allocation considerations, including reductions of debt, dividends, accretive strategic acquisitions, JVs or investments
|
ISIN: | IE00BWY4ZF18 |
Category Code: | TST |
TIDM: | CRN |
LEI Code: | 635400DPX6WP2KKDOA83 |
OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
Sequence No.: | 172545 |
EQS News ID: | 1390467 |
End of Announcement | EQS News Service |
|