Cairn Homes PLC - Dublin-based property developer - Says forward sales pipeline stands at over 1,600 new homes with net sales value over €600 million. Expects build cost inflation around 6% for 2022, which it will try and mitigate. Confirms annual guidance for revenue of €600 million from 2,500 closed new homes sales, around 1,300 of which are already closed or sale agreed. Cairn guides a core housebuilding gross margin of 22%, and an operating profit of €100 million at a 17% operating margin. Says shareholder returns for the year will amount to minimum of €115 million via dividends and share buybacks.

Current stock price: 87.80 pence

12-month change: up 0.2%

Copyright 2022 Alliance News Limited. All Rights Reserved.