Springfield says full year numbers will be ‘significantly’ better than previous forecasts

Scottish housebuilder Springfield has said it expects full year profits to be “significantly” ahead of market forecasts, the firm said in a trading update this morning.

The AIM-listed company said demand was being driven by customers wanting more space with gardens.

Springfield Properties

Springfield said buyers want bigger homes with gardens

The firm said revenue in the year to 31 May would also be up with a further update on trading pencilled in for July.

Springfield’s revenue for 2019/20 was £144.4m with pre-tax profit standing at £9.7m.

In its update, the firm added it had sold 200 plots across two of its developments in the Central Belt of Scotland to two national housebuilders.

Earlier this year, the firm reported revenue up 18% to £94.4m in the six months to November 2020 with pre-tax profit climbing from £6.3m to £8.6m.