Cairn Homes is to be listed in ISEQ 20 Index from Friday

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House builder Cairn Homes is to be listed in the ISEQ 20 Index from Friday at the expense of travel software firm Datalex.

The ISEQ 20 is a benchmark stock market index composed of companies that trade on the Irish Stock Exchange. It is made up of the 20 companies with the highest trading volume and market capitalisation contained within the overall index.

The Iseq said it had upgraded Cairn Homes following a fourth quarter review, and that the firm would appear in the index from close of business on Friday.

Cairn Homes was granted planning permission in October to construct 86 apartments in Donnybrook and to add 22 large houses at its Marianella development in Rathgar, both in Dublin.

The builder also welcomed the recent announcement that new planning guidelines relating to the design of apartments and apartments buildings blocks will be put in place shortly.

The planned changes include the removal of height caps and mandatory basement car-park provisions.

Datalex said last month that it remained on target to achieve its full-year guidance of 15-20 per cent earnings growth, as market opportunities continued to expand.

Progress on its deployment programme at the Lufthansa Group, one of its largest ever engagements, continues and it is on track to begin generating platform revenue in 2018.

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