Cairn Homes Reports 2.5% Construction Cost Increase Amid Geopolitical Volatility, Reaffirms Revenue Guidance
Cairn Homes reports a 2.5 percent increase in Irish construction costs over 12 months due to Middle East geopolitical volatility, though consumer sentiment remains unaffected. The company reaffirmed its full-year revenue guidance of €1.05 billion to €1.08 billion and noted an increase in its forward order book to 3,850 units.
Cairn Homes, the Dublin-listed home builder, has reported that geopolitical volatility in the Middle East has driven Irish construction costs up by approximately 2.5 percent over the past 12 months. Despite this increase, the company noted that consumer sentiment in the Republic of Ireland has not yet been affected.
The company stated that it does not anticipate a material impact on its annual outlook from the US-Israeli conflict with Iran. Cairn Homes reaffirmed its full-year revenue guidance, projecting figures between €1.05 billion and €1.08 billion.
In a statement issued prior to its annual general meeting today, Cairn Homes announced that its closed forward order book has expanded by 400 homes in the last eight weeks, now totaling approximately 3,850 units.