Cairn Homes profit falls on pandemic dent to homebuilding activity

Thu, 4th Mar 2021

Irish homebuilding company Cairn Homes reported fall in annual profit as homebuilding activity was hampered by the pandemic impact. For the year ended 31 December 2020, pre-tax profit fell to €14.8 million from €58.6 million year-on-year as revenue fell to €261.9 million from €435.3 million. Performance was hurt by five months of limited sales activity since March 2020 during two separate lockdowns. Baring no further Covid-related site closures after 6 April 2021, the company is targeting 2,500 closed sales by the end of 2022, including about 950 to 1,050 closed sales in 2021 At 10:07am: (LON:CRN) Cairn Homes Plc share price was 0p at 0.99p Story provided by StockMarketWire.com

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