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Springfield Properties expects first-half revenue to rise 17%
StockMarketWire.com
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Scotland-focused house builder Springfield Properties said it expected to post a 17% first-half revenue following a bounce back in construction activity.
Build and sales activity both had recovered strongly following resumption of operations from late June, the company said.
It added that the rise in revenue was in line with market expectations and that it had substantial visibility over full year forecasts.
Net debt had been slashed to £33.6 million at 30 November, down from £68.8 million at 31 May.
'This has been a strong six months for Springfield,' chief executive Innes Smith said.
'We were able to safely and efficiently resume construction to complete the homes that had been scheduled for handover at the end of the previous financial year.'
'We re-opened to significant sales interest, reflecting pent-up demand and the increasing desirability for spacious homes with private gardens and easy access to plenty of green space; the type of housing Springfield offers.'
At 9:30am: (LON:SPR) Springfield Properties Plc share price was 0p at 106p
Story provided by StockMarketWire.com
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