Springfield Properties PLC Trading Update (7166Z)
December 19 2017 - 2:00AM
UK Regulatory
TIDMSPR
RNS Number : 7166Z
Springfield Properties PLC
19 December 2017
19 December 2017
Springfield Properties plc
("Springfield" or the "Company")
Trading Update
Springfield Properties (AIM: SPR), a leading housebuilder in
Scotland offering private and affordable housing, provides the
following trading update for the six month period ended 30 November
2017 ahead of its interim results to be announced in February
2018.
The Company made good progress in both the private and
affordable housing divisions, which was underpinned by the
continued requirement for more homes in Scotland for private
individuals and across all tenures in the affordable and social
housing sector. As a result, the Company expects to report revenues
for the first half of 2017/18 in line with management's
expectations and declare an interim dividend for the period.
Specifically, Springfield continued to advance the development
of new villages that it is creating across Scotland. Progress was
made with the first village, Dykes of Gray in Dundee, where sales
are ahead of the Company's target for the year to date. In
September, the first homes at Springfield's new 3,000 home village
in Perth went on sale and work on site commenced. The Company will
shortly be submitting the plans for another 3,000 home village at
Durieshill, in Stirling, for planning approval and the legal
agreement for 870 of 2,500 new homes for a village at the south of
Elgin is being finalised.
The affordable housing division also continued to perform as
expected. The Company achieved a milestone when it welcomed Housing
Minister, Kevin Stewart, to its affordable housing development in
Muirhouse, Edinburgh to mark the handover of the 70,000(th)
affordable home built in Scotland in the last 10 years. During his
visit, the Housing Minister spoke with customers living on the
development.
The Company will provide further details at the time of the
interim results.
Enquiries
Springfield Properties
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Sandy Adam, Executive Chairman
Innes Smith, Chief Executive
Officer +44 1343 552550
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N+1 Singer
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Shaun Dobson, James White +44 20 7496 3000
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Luther Pendragon
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Harry Chathli, Claire Norbury,
Alexis Gore +44 20 7618 9100
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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