Springfield Properties profits ahead of market forecast

Springfield Properties are expecting full year profits and revenue to be significantly higher than market predictions, with demand being driven by customers wanting bigger houses with gardens.

A trading updated revealed Springfield has seen strong build and sales activity throughout the year, alongside selling 200 plots across two of its large developments in the Central Belt to two national housebuilders.

The groups revenue for 2019/2020 was £144.4m, with pre-tax profit at £9.7m and they reported this year that revenue was already up by 18% in the six months to November 2020, with pre-tax rising to £8.6m, an increase of £2.3m.