Springfield looks to ‘outstanding’ year on back of record order book

Scottish housebuilder Springfield Properties said it expects an “outstanding” second half to the year on the back of a record order book. In interim results for the six months to 30 November, the AIM-listed company posted revenue of £87.3m, down from £94.4m a year earlier. Springfield pinned the fall on some sale completions in the period a year ago being “rolled over” due to the Covid-19 pandemic. Pretax profit was £6.2m, down from £8.6m. The company completed 197 private homes during the period, and said it has a record order book to be delivered during the second half of the year. Two hundred and four affordable homes were completed, up from 126 a year earlier, and the company said it is on track to deliver a record year in that market. In the contract housing arm, 58 homes were delivered, up from 18. Chief executive Innes Smith said: “We continued to experience high demand across the business and our total order book grew to a record level. We maintained excellent build activity, setting us up for an outstanding second half of the year – with handovers starting on eight new private sites since period end.” To send feedback, e-mail tim.burke@eg.co.uk or tweet @_tim_burke or @EGPropertyNews