Published on: February 22, 2022
FY guidance reiterated in HY results
Scotland’s only quoted housebuilder, Springfield Properties, has reiterated its FY2022E guidance in its interim results, supporting our estimates for FY2022E-24E, which we increased in December following the Tulloch Homes acquisition. The latest results show a sales record for Affordable Housing and the first private rental sector revenue, further diversifying the group’s revenue streams. The interim dividend was lifted from 1.3p to 1.5p – in our view underscoring the Board’s confidence in the FY outturn.