Progressive publishes new research

RNS Number : 7717P

Springfield Properties PLC

22 June 2022

 

Forecasts up after 'pay-as-you-go' acquisition We have raised our FY2023E and FY2024E PBT estimates for Scotland's only quoted housebuilder by 5% and 10%, respectively, following its £46m acquisition of the housebuilding business of Mactaggart & Mickel Group. The deal is structured with payments phased over five years in line with homes sold, so we are not changing our net debt estimates. Springfield also reiterated guidance for FY2022E, with improved net debt.

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