Cairn and Glenveagh have closed their construction sites for the next two weeksListed house builders Cairn Homes and Glenveagh Properties have closed their construction sites for the next two weeks in line with Government guidelines announced on Friday. In a statement this morning Cairn Homes reiterated that it has a “strong balance sheet,” with total equity of €763.7m as at 31 December. The company had net debt of €91.2m at the end of the year, comprising of drawn debt of €148m and cash of €56.8m. In recent weeks the company has drawn down the available €194m of its €200m revolving credit facility. Meanwhile, Glenveagh has debt of approximately €4m, cash resources and available committed facilities of €121m, as well as a further €125m of uncommitted facilities at 25 March, it said in a statement today.

Source: Irish Independent March 30, 2020 10:41 UTC