Cairn Homes be listed in Iseq 20 index from Friday

The housebuilder Cairn Homes is to be listed in the benchmark Iseq 20 index from Friday, at the expense of the travel-software firm Datalex.

The Iseq 20 is made up of the 20 companies with the highest trading volumes and market capitalisations on the Irish Stock Exchange. The Iseq said that it had upgraded Cairn Homes after a fourth-quarter review and that the firm would appear in the index from close of business on December 15th.

Cairn Homes was granted planning permission in October to build 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 apartment blocks will be put in place shortly. The planned changes include the removal of height caps and mandatory basement car-park provisions.

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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. Its deployment programme at the Lufthansa Group, one of its biggest contracts, is on track to begin generating platform revenue in 2018.