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Springfield Properties first-half profit jumps; upgrades annual guidance

Tue, 23rd Feb 2021

Scottish housebuilder Springfield Properties booked a 42% rise in first-half profit and upgraded its annual guidance, after construction bounced back following lockdowns. Pre-tax profit for the six months through December increased to £9.0 million, up from £6.3 million year-on-year, as revenue climbed 18% to £94.4 million. The company reinstated its interim dividend, with a payout of 1.3p per share. Completions increased to 443 homes, up from 438 year-on-year, following a strong rebound following resumption of operations from late June. 'With substantial visibility over our private and affordable housing revenue for the full year, we look forward to delivering significant growth for 2020/21, and expect to be slightly ahead of current market expectations,' chief executive Innes Smith said. At 9:41am: (LON:SPR) Springfield Properties Plc share price was 0p at 106p Story provided by StockMarketWire.com

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