Cairn Homes not yet seeing ‘adverse effect' of global trade strife
Cairn Homes is not yet seeing any negative consequences from ratcheting trade tensions between the US and its trading partners, but remains 'mindful' of the potential for tariffs to increase its costs.
In a trading statement issued ahead of its annual general meeting on Thursday, the Dublin-listed home builder affirmed its confidence in its full-year guidance against the backdrop of a 'very positive trading environment'.
The group's order book has grown to around 3,250 homes from around 2,600 homes at the end of February to more than 3,000 with a net sales value of around €1.25 billion, it said.
Cost inflation is running below the expected level of around 2 per cent. While it remains 'mindful of the potential impact of changes in global trade policies, we are not witnessing any adverse effect on our business at present', Cairn said.
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Cairn said its position as Ireland's largest home builder will also allow it to capitalise on the new Government's 'ambition to almost double housing output'. It said: 'Initiatives, policies and supportive capital for both housing and infrastructure are available to assist these growth objectives.'
Overall, the company said it is 'confident' of delivering its full-year guidance for 10 per cent revenue growth and operating profits of around €160 million, up from €150 million last year.
'We've experienced sustained, positive momentum since the start of the year, as evidenced by the growth in our order book to over 3,000 new homes,' said chief executive Michael Stanley in a statement.
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