Progressive Presents the management team of Springfield Properties, Scotland’s only quoted housebuilder – 10/11/2020

Springfield offers both private and affordable housing in Scotland. It is known for its distinctive village communities, set in a rural context but close to fast growing cities.

Presenters:
Innes Smith, CEO
Michelle Motion, CFO

Watch the full presentation below or navigate to the segments and questions that interest you the most.

Overview of the business

Scottish housing – a favourable legal framework

Financial highlights

Environmental, Social & Governance (ESG)

Summary

1. It was good foresight to scale back in 2006 – 2008. What were the warning signs that made you nervous?

2. Do you see prospects for future consolidation in Scotland, either by Springfield or other Scottish or UK housebuilders?

3. How important do you think it is to reduce your level of debt, and what tools do you have?

4. Future land bank sites - you gave a number of 64. When is that likely?

5. Despite the falls in your share price, why have the Directors not bought any shares this year?

6. English housebuilders tend to have zero debt. You could sell land to Sigma to make it easier for analysts - are you tempted?

7. In more normalised times, what sort of growth and operating margin do you target?

8. Do you need more equity on the balance sheet to maintain your anticipated growth?

9. Were you happy with the Redrow purchase?

10. What do you think about the prospects for Scottish independence. Do you have any contingency plans?

11. I invested with you some time ago, and I’m still losing money. What do you think that the market is missing?

12. Has the coronavirus and new working practices changed your appetite to offsite manufacturing?

13. You mentioned the desire for greater liquidity. Is there any chance of the Chairman Sandy Adams selling some of his shares?!

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