Cairn Home’s Michael Stanley sells €14.7m of shares after housebuilder’s profits hike
The shares were sold at €1.84 each, bringing the total sale to €14.72m.
Mr Stanley, who has led Cairn for the past decade, held over 21.7 million shares in the business at the end of last year.
This represented around 3.36pc of the ordinary share capital of the business in March this year, according to the company’s annual report.
The news of the sale comes following the publication of the company’s half-year results earlier this week.
Revenues were €366.1m in the period, up 67pc from the same time last year. Operating profit also soared 107pc to €61.4m.
Operating margin jumped to 16.8pc in the first six months of 2024, up 330 basis points compared to the corresponding period in 2023.
Cairn’s closed and forward order book has risen to 3,450 new homes with a net sales value of €1.32bn.
“The company has delivered a stellar half-year performance across all key metrics, most importantly in housing delivery with our turnover increasing by 67pc year-on-year,” Mr Stanley…
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