Maiden FY results report strong growth, delivering volumes of 770 (2017: 620) and adj. PBT growth of 46% to £9.8m (2017: £6.7m), 2% ahead of our forecast. Both divisions had a solid performance, with gross profit increasing by 17% in Private and 89% in Affordable. The Group significantly outperformed on cash generation, with net debt of £15.3m at the period end (N+1SE: £28.4m, 2017: £33.2m). In addition to strong trading, cash outflows were lower due to fewer land purchases and a focus on securi ....
18 Sep 2018
Sector leading growth; outperformance in cash
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Sector leading growth; outperformance in cash
Springfield Properties PLC (SPR:LON) | 97.5 0 0.0% | Mkt Cap: 115.7m
- Published:
18 Sep 2018 -
Author:
James Tetley -
Pages:
3
Maiden FY results report strong growth, delivering volumes of 770 (2017: 620) and adj. PBT growth of 46% to £9.8m (2017: £6.7m), 2% ahead of our forecast. Both divisions had a solid performance, with gross profit increasing by 17% in Private and 89% in Affordable. The Group significantly outperformed on cash generation, with net debt of £15.3m at the period end (N+1SE: £28.4m, 2017: £33.2m). In addition to strong trading, cash outflows were lower due to fewer land purchases and a focus on securi ....