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An update from Springfield Properties PLC ( (GB:SPR) ) is now available.
Springfield Properties PLC has signed a £64.2 million land sale agreement with Barratt, selling 2,480 plots of undeveloped land across six sites. The proceeds will be used to reduce bank debt and invest in growth opportunities in Northern Scotland, driven by substantial infrastructure projects and population growth. This deal is expected to significantly boost the company’s financial performance in FY 2025 and strengthen its balance sheet, enabling Springfield to focus on its strategic growth in the North, where it is well-positioned due to its large land holdings and established presence.
More about Springfield Properties PLC
Springfield Properties PLC is a leading housebuilder in Scotland, focusing on delivering private and affordable housing. The company is known for its significant land bank, particularly in Central and Northern Scotland, and is positioned to capitalize on regional growth opportunities.
YTD Price Performance: 4.79%
Average Trading Volume: 137,066
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £117.1M
Learn more about SPR stock on TipRanks’ Stock Analysis page.