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Springfield Properties lifts dividend 17% as profits improve

By BFN News | 08:00 AM | Tuesday 25 February, 2020


Scottish house builder Springfield Properties posted a 3.4% rise in first-half profit after it completed more homes and expanded its margins. Pre-tax profit for the six months through November increased to £6.3m, up from £6.1m on-year. Revenue rose 5.4% to £79.8m. The company declared an interim dividend of 1.4p per share, up 17% on-year. Home completions rose 16% to 438 and gross margin improved to 19.9%, from 17.2%. 'Looking ahead, we entered the second half with a strong order book and we are experiencing good growth across the business,' chief executive Innes Smith said 'Alongside our customers, we are benefitting from the UK having entered a period promising greater market certainty - with an increase in the reservation rate since December.' Smith said the company was confident of achieving growth for the full year in line with its expectations. At 8:00am: (LON:SPR) Springfield Properties Plc share price was 0p at 160p Story provided by StockMarketWire.com

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