Springfield Homes Release Trading Update

Springfield Homes Release Trading Update

The Leading housebuilder in Scotland, Springfield Properties, has been providing a range of trading update for the six-month period which ended on the 30th November. The leading housebuilding company works to offer private and affordable housing. The trading update that has been released by the company takes place ahead of their interim results which will be announced February 2018.

The Company’s update has shown that they have made good progress in both the private and affordable housing divisions. This progress that has been experienced by Springfield Properties was underpinned by the continued efforts for more homes to be made available in Scotland to private individuals across all tenures looking in the affordable and social housing sector. Because of the success experienced it is thought that Springfield will be reporting revenues for the first half of 2017/18 in line with management’s expectations and declare an interim dividend for this period.

In particular, the trading update that has been released by the housebuilder has demonstrated that the company continues to advance the development of new villages which is taking place across Scotland. As a part of this, the company has made progress with the first village of this kind, Dykes of Gray in Dundee. At this development, sales have been reported as ahead of the Company’s target for the year to date. In September, the first homes at Springfield Properties’ new 3,000 home village in Perth went on sale and work on the site commenced. The trading update that has been released shows that the housebuilding company is also planning to submit plans for another 3,000 home village at Durieshill in Stirling. These plans will seek planning approval and the legal agreement for 870 of 2,500 new homes for a village at the south of Elgin is also being finalised.

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