Published on: February 25, 2020

Distinctive market positioning pays dividends

Scotland’s only quoted housebuilder has confirmed its FY 2020E guidance after it pointed to increased buyer activity following the UK General Election in what we continue to see as a promising Scottish market. HY 2020E results confirmed increased completions for both Private and Affordable divisions plus rising margins and profits. While PBT rose by 3.4%, it signalled confidence in the FY outlook by raising the interim dividend by 17%. We maintain all our key estimates for FY 2020E – 22E.

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