Scottish housebuilder Springfield Properties increased PBT by 69% in FY 2019, beating our estimate by 3% and undershooting our debt assumptions. We maintain our latest estimates but believe the group is investing in potentially greater mid-term growth, by strengthening management and systems, planning further progress in affordable housing and extending its regional footprint, including into the rapidly growing city of Inverness.
17 Sep 2019
Great expectations
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Great expectations
Springfield Properties PLC (SPR:LON) | 97.5 3.4 3.7% | Mkt Cap: 115.7m
- Published:
17 Sep 2019 -
Author:
Alastair Stewart -
Pages:
12
Scottish housebuilder Springfield Properties increased PBT by 69% in FY 2019, beating our estimate by 3% and undershooting our debt assumptions. We maintain our latest estimates but believe the group is investing in potentially greater mid-term growth, by strengthening management and systems, planning further progress in affordable housing and extending its regional footprint, including into the rapidly growing city of Inverness.