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Sep 12 2019, 07:10 IST/BST
A lower margin at Hanover Quay has driven margins, which were below our expectations in H1 for Cairn Homes. This will also put downward pressure on our full year estimates despite volume guidance being reiterated. The company has started a buyback programme and confirmed its first ordinary dividend, which could deliver more than 5.6c of shareholder returns by the end of the year.