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Industrials

Sparks

Springfield Properties (LSE: SPR) delivers H1 in line with strengthened balance sheet
Published by Finlay Mathers

Springfield Properties delivered H1 results in line with expectations, with revenue up 2% to £108.0m and adjusted PBT up 8% to £4.1m. The standout was the 37% reduction in net debt to £39.6m. Private housing completions fell 17% due to market conditions but affordable housing grew with completions up 19%. Post-period, the group signed an initial agreement with SSEN Transmission for 293 homes to support energy infrastructure workers in northern Scotland. Management remains on track to deliver full-year growth in both private and affordable housing.

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