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Sep 12 2019, 07:10 IST/BST
Cairn Homes
FY volumes guidance reiterated, margin lower; will start share buyback this week
- Sectors : Construction and Housebuilding
- Companies : Cairn Homes
DAVY VIEW
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.
