Springfield’s H1 update highlights a robust performance. The improved private reservation rate has been sustained through H1, with selling prices also resilient. Affordable contracts have progressed well at improved, double digit gross margins and whilst there has been a hiatus in new contract awards, a much-improved funding provision in the Budget last week should support new contract awards in H2 and beyond. As usual, we anticipate an H2 weighting but management remains confident in the outloo ....
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