Luck of the Irish for housebuilder

A renaissance in the Irish property market helped profits at housebuilder Cairn more than treble last year.

The London-listed firm expects earnings in 2017 to jump from €3.8 million (£3.3m) to up to €15m, with revenues climbing from €40.9m to €149m. Ireland’s property market endured a slump following the financial crisis, but an economic recovery is resulting in rising demand.