Cairn Homes (LSE:CRN) raised its full-year revenue and operating profit guidance and announced a new €50 million share buyback after reporting higher revenue and profit for the first half of 2026.

Revenue for the six months ended 30 June increased 60% to €455.5 million from €284.5 million in the corresponding period a year earlier, as the Irish homebuilder completed 1,139 units.

The net average selling price increased to €393,000 from €387,000.

Operating Profit Rises 75%

Operating profit increased 75% to €74.8 million from €42.7 million, while the operating margin rose to 16.4% from 15.0%.

Gross profit was €96.9 million, up 54% from €63.1 million. Basic earnings per share increased 82% to 9.3 cents from 5.1 cents.

Cairn raised its interim dividend to 4.5 cents per share from 4.1 cents a year earlier.

Operating cash flow was €22.4 million, compared with an outflow of €118.6 million in the prior-year period. Net debt declined to €194.5 million from €307.4 million.

Order Book Reaches €1.89 Billion

As of 1 September 2026, Cairn’s closed and forward order book comprised 5,020 units with a value of €1.89 billion. This compared with 4,092 units valued at €1.54 billion a year earlier.

The company said demand from first-time buyers increased during the period. Its private weekly sales rate averaged 3.7 new homes across selling sites during the first half, when Cairn also undertook eight new private launches.

Chief executive Michael Stanley described the period’s performance as reflecting a “step change in output”, citing the 60% increase in deliveries and what the company called an exceptionally strong financial performance and return on investment.

Cairn Homes Increases 2026 Profitability Forecast

Cairn raised its full-year revenue guidance to approximately €1.08 billion, compared with its previous forecast range of €1.05 billion to €1.08 billion.

Operating profit is now expected to be approximately €185 million, up from previous guidance of between €180 million and €185 million.

The company also increased its return on equity forecast to approximately 17.0% from around 16.5%. These figures remain company forecasts rather than established outcomes.

Alongside the updated guidance, Cairn announced a new €50 million share buyback. The company said the decision reflected visibility from its order book and its assessment of balance-sheet capacity to invest in growth while targeting net debt to gross asset value of approximately 20% by year-end.