Cairn Homes Plc (CRN.L) on Wednesday posted lower profit in the first half of the year, impacted by a drop in revenues. The company raised its outlook for the year ahead and revealed guidance for fiscal 2026. Cairn Homes also lifted the interim dividend for the period, in comparison to a year ago.
The Irish house-builder and developer reported profit attributable to owners of the company of 31.69 million euros or 5.1 cents per share in the first half, down from 46.89 million euros or 7.2 cents per share in the same period last year.
During the first six months of 2025, pre-tax profit declined to 37.02 million euros from 54.41 million euros recorded in the year-ago period.
The company's half-yearly revenues came in at 284.5 million euros, down from 347.1 million euros generated in the corresponding period of 2024. According to Cairn Homes, operating profit fell to 42.7 million euros from 61.4 million euros in the previous-year period.
The company said that its Board has recommended an interim dividend for the period of 4.1 cent per share, which will be paid on October 15 to ordinary shareholders on the company's register on September 19. This is higher than the 3.8 cent per share distributed in the first half of 2024.
Looking ahead, Cairn Homes upgraded its fiscal 2025 outlook to revenue of around 945 million euros from the earlier forecast of revenue growth more than 10 percent. Operating profit is now expected between 160.0 million euros and 165.0 million euros, higher than the earlier forecast of around 160.0 million euros.
For fiscal 2026, the company expects revenue in the 1.02 billion euros to 1.05 billion euros range and operating profit between 175 million euros and 180 million euros.
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