Published on: July 19, 2023
‘In-line’ results in face of multiple challenges
Springfield’s FY23E period-end trading update confirms that profits will be in line with expectations despite challenging UK economic conditions and specific headwinds in the affordable housing and private rental sectors in Scotland. However, the group has cautioned on the near-term outlook in the private sales market. For now, we maintain our FY24E forecasts until greater visibility emerges at the September results on the private market and, possibly, more supportive policy on affordable housing.