We have raised our FY2021E PBT and EPS estimates by almost 20% and cut our net debt projections following an unscheduled trading update, which guided to profits “significantly ahead of market expectations”, driven by “excellent” private housing activity and land sales. At this point we are not changing our FY2022E and FY2023E P&L estimates but expect the risk is on the upside and will re-examine these following the scheduled update in July.
01 Jun 2021
“Excellent” H2 sales drive FY2021E upgrades
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“Excellent” H2 sales drive FY2021E upgrades
Springfield Properties PLC (SPR:LON) | 97.5 0 0.0% | Mkt Cap: 115.7m
- Published:
01 Jun 2021 -
Author:
Alastair Stewart -
Pages:
4
We have raised our FY2021E PBT and EPS estimates by almost 20% and cut our net debt projections following an unscheduled trading update, which guided to profits “significantly ahead of market expectations”, driven by “excellent” private housing activity and land sales. At this point we are not changing our FY2022E and FY2023E P&L estimates but expect the risk is on the upside and will re-examine these following the scheduled update in July.