Springfield has signed a binding agreement for the sale of c.45 acres of land for £4.2m. Theland, which equates to 190 plots, is fully owned, such that the cash inflow will be £4.2m, £830k later this month and the remainder to be paid by the May year end. Importantly, the land was sold at a profit, though the quantum of this is not disclosed. The proceeds from the sale support the Group’s target to reduce debt. This is the second land sale this year, totalling £9.4m vs. our £26m forecast. With s ....
