Springfield Properties Surpasses Debt Targets

Springfield Properties PLC (GB:SPR) has released an update.

Springfield Properties PLC, a prominent Scottish housebuilder, reported a decrease in revenues and profits for the year ended May 31, 2024, amidst a challenging housing market. Despite this, the company surpassed its debt reduction target, with net bank debt falling significantly to £39.9m, and saw early signs of recovery in private housing demand. Springfield is now poised for growth, leveraging one of Scotland’s largest land banks and resuming dividends with a total payout of 1p per share for the year.

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