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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