Cairn Homes Plc expects the operating profit for H1 2020 to be €5.6 million

  • Aug 11, 2020 BST
  • Team Kalkine
Cairn Homes Plc expects the operating profit for H1 2020 to be €5.6 million

 

Cairn Homes Plc (LON: CRN) has released a trading update for the six months ended 30 June 2020. The company continued generating profit despite COVID-19 challenges.

  • For the reported period, the company closed 207 new home sales as compared to 390 closed new home sales in H1 2019. The revenue generated was around €80.6 million as compared to €192.4 million for H1 2019.
  • The operating profit for the six months is expected to be around €5.6 million as compared to €27.3 million in H1 2019.
  • As on 30 June 2020, the company had a gross cash position of around €155.0 million and net debt of nearly €187.0 million.
  • On 11 August 2020, at the time of writing, GMT 08:07 AM, CRN shares were trading at GBX 0.88, up by 0.05 points or 5.28% against the previous day closing price.

 

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