Springfield Properties constructs solid annual results

AIM-listed Scottish housebuilder Springfield Properties (LON:SPR) has reported a 36% rise in revenues for the year ended 31st May as it completed on 23.6% more properties than in the prior year and at higher average prices. Profits before tax for the year rose by 79.4% and management said that they were continuing to see good progress in the current financial year.

CEO Innes Smith commented: “This was another great year for Springfield as we delivered on all of our targets and strengthened our ability to deliver sustained growth. In particular, our investments in the acquisition of Dawn Homes, Walker Group and our four high calibre managing directors have greatly enhanced our business. None of this would have been possible without the skill and hard work of our employees, for which we thank them. With a great product, an excellent team and sustained demand for housing in Scotland, we have established a solid pipeline and remain on track to deliver continued growth in line with market expectations“.

Springfield Properties share price moved upwards by 2.37% to 108.51p (as of 15:05 BST).