Cairn Homes Plc: 2023 AGM Trading Update
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Cairn Homes Plc (CRN)
2023 AGM Trading Update
Dublin / London, 11 May 2023: Cairn Homes plc (“Cairn”, “the Company” or “the Group”) (Euronext Dublin: C5H / LSE: CRN) is holding our Annual General Meeting (“AGM”) today at 10.00am at the Merrion Hotel, Merrion Street Upper, Dublin 2 and in advance provides the following update on current trading and guidance for FY23.
Current Trading
Reaffirming FY23 Guidance
Cairn will release a H1 2023 trading update in early July 2023 in advance of 2023 interim results on 7 September 2023.
Commenting on the trading update, Michael Stanley, CEO, said: “Ireland’s relative economic success in challenging times must be underpinned by more significant investment and new housing delivery, from both the State and the homebuilding industry. It is very unfortunate that there has been such a significant increase in the cost of delivering new homes in Ireland and there is no sign these additional material and labour costs are unwinding. Thankfully, many of our younger customers are still able to purchase Cairn’s new homes with the necessary support of shared equity and Help to Buy. This is evidenced by our current closed and forward sales pipeline of over 1,900 new homes. More recently, the increased focus from Government in targeting scaled affordable rental accommodation for our young working population through the recently announced cost rental policy initiatives (CREL) is welcome. The resulting increase in the quantum of State-owned apartment developments, built to the highest standards, in partnership with AHBs and the LDA will have positive benefits, for both the current housing and rental market challenges and a future sustainable economy.”
For further information, contact:
Cairn Homes plc +353 1 696 4600 Michael Stanley, Chief Executive Officer Shane Doherty, Chief Financial Officer Declan Murray, Head of Investor Relations
Drury Communications +353 1 260 5000 Billy Murphy Claire Rowley Morwenna Rice
Notes to Editors Cairn Homes plc (“Cairn”) is the leading Irish homebuilder committed to building high-quality, competitively priced, sustainable new homes and communities in great locations. At Cairn, the homeowner is at the very centre of the design process. We strive to provide unparalleled customer service throughout each stage of the home-buying journey. A new Cairn home is expertly designed, with a focus on creating shared spaces and environments where communities thrive. Cairn owns a c. 16,800 unit landbank across 34 residential development sites, over 90% of which are located in the Greater Dublin Area (“GDA”) with excellent public transport and infrastructure links.
Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
| 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.: | 242826 |
| EQS News ID: | 1629767 |
| End of Announcement | EQS News Service |
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