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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Springfield Properties Plc | LSE:SPR | London | Ordinary Share | GB00BF1QPG26 | ORD 0.125P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -1.00 | -1.03% | 96.50 | 60,484 | 16:00:49 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 95.00 | 98.00 | 97.50 | 96.50 | 97.50 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Operative Builders | 332.13M | 12.07M | 0.1018 | 9.48 | 114.47M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:00:50 | O | 4,500 | 96.95 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 08/4/2024 | 11:25 | UK RNS | Springfield Properties PLC Block Listing Application |
| 20/3/2024 | 14:58 | UK RNS | Springfield Properties PLC Exercise of Options, Issue of Equity and TVR |
| 29/2/2024 | 17:12 | UK RNS | Springfield Properties PLC Director Share Purchase |
| 20/2/2024 | 11:24 | ALNC |  Springfield Properties' profit suffers from low mortgage affordability |
| 20/2/2024 | 08:14 | UK RNS | Springfield Properties PLC Progressive publish new research |
| 20/2/2024 | 07:00 | UK RNS | Springfield Properties PLC Interim Results |
| 19/2/2024 | 10:27 | ALNC | IN BRIEF: Springfield Properties sells land for GBP8.7 million |
| 19/2/2024 | 07:00 | UK RNS | Springfield Properties PLC Sale of land for £8.7m |
| 06/2/2024 | 10:59 | ALNC | Springfield Properties wins USD15 million affordable housing deal |
| 06/2/2024 | 07:00 | UK RNS | Springfield Properties PLC Springfield signs £15m affordable housing.. |
Springfield Properties (SPR) Share Charts1 Year Springfield Properties Chart |
|
1 Month Springfield Properties Chart |
Intraday Springfield Properties Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 27/2/2024 | 13:07 | Springfield Properties | 315 |
| 10/2/2021 | 09:34 | Springfield Properties | - |
| 25/2/2015 | 10:58 | Sperati plc | 122 |
| 13/8/2013 | 10:58 | debate: future super power of asia | 16 |
| 25/10/2007 | 11:03 | Free ADVFN upgrade | 76 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 15:00:51 | 96.95 | 4,500 | 4,362.75 | O |
| 15:00:49 | 95.00 | 2 | 1.90 | O |
| 14:17:12 | 99.00 | 1,250 | 1,237.50 | O |
| 14:01:25 | 97.50 | 11,282 | 10,999.95 | O |
| 14:01:23 | 97.50 | 13,718 | 13,375.05 | O |
| Top Posts |
|---|
Posted at 24/4/2024 09:20 by Springfield Properties Daily Update Springfield Properties Plc is listed in the Operative Builders sector of the London Stock Exchange with ticker SPR. The last closing price for Springfield Properties was 97.50p.Springfield Properties currently has 118,625,256 shares in issue. The market capitalisation of Springfield Properties is £114,473,372. Springfield Properties has a price to earnings ratio (PE ratio) of 9.48. This morning SPR shares opened at 97.50p |
Posted at 21/2/2024 09:14 by alan@bj A strong recommendation yesterday from Investors Chronicle, which cites three reasons for optimism and ends, "On this basis, the shares are priced on a forward price/earnings (PE) ratio of 9.4 as well as 46 per cent below book value estimates of 141p – a harsh rating given green shoots of recovery. Buy." |
Posted at 20/2/2024 07:16 by 18bt Looks like deep value here if they can deliver on their promises for H2. Nascent signs of house price recovery as reported elsewhere. Rising earnings growth above inflation for those in work will help multiples even as the SNP’s tax increases neutralise some of the effect in Scotland. |
Posted at 20/2/2024 07:13 by edmonda Interim Results - "Looking to the future with confidence"New research report with audio summary here: Springfield has reported encouraging H1 results, reiterating full year expectations and confidence in longer term growth prospects. The strategy to maximise cash generation is bearing fruit, costs are being carefully controlled and there are signs of market recovery, both in terms of Affordable contract successes and, more recently, a pick-up in Private Housing activity since mid-January. It is too early to extrapolate but the average weekly reservation rate in Private Housing since mid-January has been 62% higher than for the year to that point Debt reduction is a clear priority for management and today’s results highlight the progress that has been made in realising cash from the land bank in recent periods. Springfield has one of the largest land banks in Scotland and an excellent reputation in both Private and Affordable Housing. With increasing confidence in forecasts and improving market sentiment, we believe the 40%+ discount to sector peers is unwarranted and reiterate our ED Fair Value/Share of 130p (Price/ Book multiple of c.1.0x). |
Posted at 23/12/2023 12:25 by davebowler htTPs://www.stockome |
Posted at 21/12/2023 08:54 by alan@bj A report in The Times today headed “Resilient house prices defy dire forecasts” draws from the ONS figures on housing sales to the end of October. One paragraph states, “Prices fell more sharply in Wales in the year to October, sliding by 3 per cent to an average of £214,000, according to the statistics office. By contrast, the average house price in Northern Ireland and Scotland rose by 0.2 per cent to £191,000.” |
Posted at 13/12/2023 08:45 by edmonda "Increasing confidence, debt reduction on track"New report with audio summary here: Springfield’s half year trading update (six months to Nov ’23) confirms an in-line performance for H1 and reiterates full year expectations. After a challenging period for the sector, it is a reassuring update, pointing to subdued but stable conditions in Private housing, increasing activity within Affordable housing and clear progress with the Board’s debt reduction strategy. Recent indicators suggest that the market may be stabilising (notably mortgage approvals ticking up in October as interest rates appear to have peaked) giving us confidence to introduce FY25 forecasts within this note. Springfield’s shares have recovered somewhat over recent weeks, alongside sector peers, but still trade on just 9x P/E and 0.5x P/Book for FY25. With increasing visibility of profit recovery and cash generation, we increase our ED Fair Value to 130p (from 110p) based on a sector average Price/ Book multiple of 1.0x. |
Posted at 13/12/2023 08:25 by swiss paul Steady as she goes albeit with £93 mill of debt - ouchTrading Update Trading in line with management expectations - on track to meet debt reduction target Springfield Properties plc (AIM: SPR), a leading housebuilder in Scotland focused on delivering private andaffordable housing, provides the following update on trading for the six months ended 30 November 2023. · Trading in H1 2024 has been in line with management expectations oDemand in private housing remained stable but subdued oRecommenced signing new affordable-only housing contracts, with c. £24.0m of new contracts entered into · Two profitable land sales agreed in H1 2024 for a total of £9.3m with funds to be received by the end of the financial year, and confident of signing other agreements in the near term · Net bank debt at 30 November 2023 of c. £94.0m (not including the c. £8.8m outstanding proceeds from recent land sales) and on track to meet target of reducing net bank debt to c. £55.0m by 31 May 2024 (31 May 2023: £61.8m) · Build cost inflation continues to reduce - expected to be c. 4% for H1 2024 - and there is greater availability of materials and labour |
Posted at 27/10/2023 09:25 by gn100 Hi CJohn - What I said above is pretty well the summary of the IC article. From my position I am a holder of several UK HBs and SPR. Like any other long-term holder I am underwater on all of them but I will not be selling as I fully understand the cyclic nature of these Cos but SPR is definitely the weakest because of it's balance sheet. However they are taking the right steps to rectify this among them the non-payment of a divi which demonstrates their resolve in this matter.Regarding the timing of their land purchases - hindsight is a wonderful thing, as I often find out with my share purchases. I will not be selling (unless the story seriously changes). One can always take a little comfort with the knowledge that the UK is a small landmass with a green belt policy and an increasing population. In the long term they have to be housed somewhere, plus the already mentioned need of politicians to buy votes. |
Posted at 16/10/2023 13:01 by edmonda "Land sale – delivering on cash generation strategy"Springfield has announced the sale of c.9.5 acres of land for £5.2m in cash (£0.5m to be received in the coming days, £4.7m on completion). This is a profitable land sale, which is in keeping with the Group’s focus on debt reduction in an uncertain housing market. This again illustrates the value within the Group’s large landbank and discussions are ongoing with other housebuilders and affordable housing providers about a number of sites. Springfield has one of the largest landbanks in Scotland. As of 31st May, the Group had 6,712 owned plots and strategic options over a further 3,255 acres (equivalent of a further 33,000 plots). The gross development of the owned landbank is c.£1.9bn, providing firm underpinning for long term shareholder value. We recently initiated coverage - see link here: - and continue to see scope for a material re-rating of the shares. Our Fair Value / share is 110p, based on an undemanding rating of 0.9x Price/ Book. Link to research report: |
Posted at 22/2/2023 08:56 by scotches SHARES in Springfield Properties plunged by nine per cent after the Elgin-based housebuilder revealed spiralling inflation had led it to pause activity in the affordable housing market, sparking an unspecified number of redundancies at the company.Springfield declared the impact of cost inflation on fixed-price contracts in affordable housing had offset the growth it had seen in the private market as it reported profits had fallen by 5% to £5.9 million in six months to November 30. The company said it will not enter any new long-term fixed contracts for affordable housing until market conditions improve. And chief executive Innes Smith said it would not invest in speculative building in the near future, with the company focusing on reducing its debt. Profits at Springfield dipped in the first half amid the fall-out from former Prime Minister Liz Truss’s mini-Budget in September, which Mr Smith said had reduced homebuyers’ confidence and increased the cost of mortgages “significantly He told The Herald that Springfield has seen “green shoots” in the New Year, with reservation rates gradually increasing in January, but said the recovery had still to be established. Springfield underlined the impact of its acquisitions of Mactaggart & Mickel Homes in July and Tulloch Homes in December 2021, as revenue from its private housing business increased to £118.6m in the first half from £47.3m at the same stage last year. The company completed 429 homes in the first half, and is on track to deliver 1,200 for the full year, the company said. However, revenue from affordable housing dipped by 12% to £27.9m from £31.7m amid the impact of cost inflation on fixed price contracts that were signed two to three years ago, which reduced margins. Overall revenue increased by 85% to £161.9m. Springfield said it would hold back from further work in affordable housing until conditions improve and the Scottish Government reviews its affordable housing investment benchmark. Next year, affordable housing will account for 13% of Springfield’s business, compared to the 30% it has been responsible for previously. “It has just become an incredibly difficult market,” Mr Smith said. “We have had 15 very good years of affordable. It’s a bad year this year so clearly we are pulling back and we have got the projects right down on affordable. “But on the positive side the customer reservations are up.” Mr Smith noted reservation rates in the private housing had steadily recovered in January to levels seen before the Truss mini-Budget, declaring that “there is more confidence in the market”. He added: “People can see where the mortgage rates are at. Inflation is on its way down. We have seen prices remain stable. We have had no price decreases and we have no need of doing that so we do think the green shoots are there. Whilst we can’t quite see the flowers, we do see the green shoots.” Mr Smith went on to highlight the falling price of commodities such as natural gas, oil and timber, which he said will accelerate as housebuilders reduce output and, ultimately, feed through to energy bills and the cost of living. “That is coming, so that is clearly a positive,” he said. Springfield reported that it undertook a restructuring further to its £46.3m acquisition of the housebuilding business of Mactaggart & Mickel which, along with other actions to save costs, will lead to annualised cost savings of around £3m. Asked where the savings have been made, Mr Smith said “some senior management have left the business” further to the restructuring, while other people have departed and not been replaced. He said: “Obviously, as turnover has gone down in affordable [housing], then unfortunately redundancies have had to happen. “That is one of the consequences of taking the foot off the gas. “There are real people getting impacted – [it is not just that] they are not getting the houses, [there are] employees that are no longer here because of that.” Asked to specify how many people had been made redundant, Mr Smith said: “I would prefer not to.” Springfield currently directly employs around 900 people, plus a further 1,500 on a sub-contracted basis. The company has also stepped back from building homes for the private rented sector, following the move by Scottish ministers to cap rent increases to help people amid the cost-of-living crisis. It had previously been planning to build 300 PRS homes in partnership with Sigma Capital Group. Springfield reported that net debt stood at £73.7m on November 30, compared with £38m at May 31. It noted that the increase reflected the “usual working capital cycle... with significant work-in-progress at period-end for delivery in the second half of the year and in the next financial year, as well as the Mactaggart & Mickel Homes acquisition.” Shares closed in Springfield Properties closed down 8p, or 9%, at 80p. |
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