Scottish housebuilder Springfield hikes dividend
Springfield Properties has increased its dividend by 18.9% for the year ended 31 May 2019.
The Scottish housebuilder raised its dividend to 4.4p, up from 3.7p the previous year.
The firm’s revenue increased by 36% to £190.8m and operating profit soared by 65% to £17.6m.
Springfield Properties has increased its dividend by 18.9% for the year ended 31 May 2019.
The Scottish housebuilder raised its dividend to 4.4p, up from 3.7p the previous year.
The firm’s revenue increased by 36% to £190.8m and operating profit soared by 65% to £17.6m.
During the year, Springfield’s home completions increased by 24% to 952. The firm also boosted its presence in the Edinburgh commuter belt area with the acquisition of Walker Group, a Livingston-based housebuilder focussed on private housing, and by securing land for a new village at Gavieside in Livingston.
Sandy Adam, executive chairman of Springfield Properties, said: “We increased our revenue from both private and affordable housing, and achieved significant improvement in gross margin. We expanded our geographic presence and scale and made great progress with our village developments, with the most advanced strengthening in appeal as they become increasingly established new communities.
“With our strong land bank of nearly 16,000 plots, the progress that we’re making with our village developments and sustained market drivers, we are well-positioned for continued growth.”
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