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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Springfield Properties Plc | SPR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 92.00 | 08:00:25 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 92.00 | 92.00 | 92.00 | 92.00 | 92.00 |
| Industry Sector |
|---|
| HOUSEHOLD GOODS & HOME CONSTRUCTION |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 17/09/2024 | Final | GBP | 0.01 | 07/11/2024 | 08/11/2024 | 12/12/2024 |
| 20/09/2022 | Final | GBP | 0.047 | 03/11/2022 | 04/11/2022 | 16/12/2022 |
| 22/02/2022 | Interim | GBP | 0.015 | 10/03/2022 | 11/03/2022 | 31/03/2022 |
| 14/09/2021 | Final | GBP | 0.0445 | 04/11/2021 | 05/11/2021 | 09/12/2021 |
| 23/02/2021 | Interim | GBP | 0.013 | 04/03/2021 | 05/03/2021 | 25/03/2021 |
| 29/09/2020 | Final | GBP | 0.02 | 12/11/2020 | 13/11/2020 | 10/12/2020 |
| Top Posts |
|---|
Posted at 15/10/2024 18:40 by swiss paul and there was me thinking - aye aye - someone has finally put therio hand in their pocket:Springfield Properties plc (AIM: SPR), a leading housebuilder in Scotland focused on delivering private and affordable housing, announces that Iain Logan, Chief Financial Officer, has sold and repurchased into his self-invested personal pension ("SIPP") ordinary shares of 0.125 pence each in the Company ("Ordinary Shares"). Following these transactions, Iain Logan continues to have an interest in 30,000 Ordinary Shares, representing 0.03% of the Company's issued share capital. But I suppose when you sitting on a shiot load of options at a low price - well why would you? |
Posted at 17/9/2024 06:31 by edmonda "Attractive growth outlook and 30% discount to peers" - new research reportSpringfield is emerging strongly from a challenging year for the housebuilding sector, with debt substantially reduced, private reservations and affordable order book improving and an increasingly confident medium-term outlook. FY24 results are in line with expectations and ahead of the original targets for the year. The dividend has been reinstated (1.0p final) earlier than forecast, in a sign of confidence. Management’s principal objective at the beginning of the year was to reduce bank debt to <£60m and this was comfortably achieved (£39.9m reported). The partnership with Barratt at Durieshill is a reminder of the long-term value in the landbank, which also underpins genuine excitement in the prospects for the North of Scotland, a region that will benefit from a sustained and significant increase in investment over the coming years. Whilst the shares have performed well over the past year, given the confident tone of today’s outlook statement, the Group’s low valuation relative to peers and the exciting opportunity emerging in North Scotland (not yet reflected in forecasts), we reiterate our Fair Value / share estimate of 140p. Link to report: |
Posted at 30/5/2024 14:46 by swiss paul Keeping the lights on?Springfield signs £6.3m affordable housing contract Springfield Properties plc (AIM: SPR), a leading housebuilder in Scotland focused on delivering private and affordable housing, announces that it has signed a new contract, worth £6.3m, with the Wheatley Group for the delivery of affordable housing. Construction will commence immediately and is expected to complete by October 2025, with the majority of the revenue to be recognised in the Group's next financial year. Innes Smith, CEO of Springfield Properties, said:"This new contract marks another great step for us in affordable housing, building on the excellent momentum with multiple recent contract wins and is a good way to end our current financial year in this area of the business. We are excited to once again be working with the Wheatley Group, a long-term partner of Springfield, to deliver these vitally important affordable homes. With our strong, established relationships with affordable housing providers across Scotland and a large high-quality land bank, we look forward to updating the market on further progress in this area in due course." |
Posted at 01/5/2024 07:06 by swiss paul Springfield signs £10m affordable housing contractSpringfield Properties plc (AIM: SPR), a leading housebuilder in Scotland focused on delivering private and affordable housing, is pleased to announce that it has signed a new contract, worth £10.1m, with Moray Council for the delivery of affordable housing. The Group will receive funds from the sale of the land to Moray Council in the current financial year and the design and build phase, which accounts for the vast majority of the contract value, is due to be delivered over the next 18 months. The development is being funded by Moray Council and The Scottish Government. It is part of the Moray Growth Deal, which is designed to boost economic growth across the region, including through a project to deliver hundreds of affordable homes, and brings together Scottish and UK governments, Moray Council, public and third sector organisations and private businesses. Innes Smith, CEO of Springfield Properties, said: "We are pleased to have been awarded this latest affordable housing contract from Moray Council, which is a long-standing partner of Springfield. As part of the Moray Growth Deal, it reflects the importance of housing delivery to driving economic growth - and the recognition of this importance by the Council and Scottish Government. With our strong land-holding across the region and established relationships, we are well-placed to be awarded further contracts under this project to provide much-needed homes |
Posted at 23/12/2023 12:25 by davebowler htTPs://www.stockome |
Posted at 20/12/2023 10:46 by 1ups1de Still a steal @under£1. Improving 24 macros ( interest rates / inflation); sensible debt reduction programme rather than dividend;significant housing supply constraints; substantial land bank undervalued. |
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 08:25 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 20/9/2023 19:21 by scotches Scottish housebuilder Springfield Properties lost 10% of its stock market worth today after it suspended dividend payments and warned it does not expect to see “any material improvement in homebuyer confidence” before spring next year.The Elgin-based company has embarked on a strategy to slash debt amid significantly lower levels of reservations in private housing, as it cited the impact of high interest rates, mortgage affordability and reduced confidence among the house-buying public. It told the City that it had suspended dividend payments until its bank debt is “materially reduced” and unveiled a range of measures aimed to reduce net debt to around £55 million by May 31, 2024. The company's net debt had spiralled to £67.7m by May 31 this year from £38.1m the year before. Springfield outlined the difficulties it is facing in the short-term as the housing market continues to come under pressure from the recent surge in interest rates. The base rate currently stands at 5.25% following 14 consecutive rises by the Bank of England's Montetary Policy Committee. It will unveil the result of its latest vote tomorrow, with economists forecasting a further quarter-point rise to 5.5%. The base rate had been at a record low of 0.1% as recently as December 2021. Springfield said that it secured an additional £18m term loan and a 12-month extension to its overdraft facility to “ensure sufficient headroom” in the short term. It noted that it was actively pursuing land sales to accelerate the realisation of cash from its large land bank, carefully managing working capital, and pausing all speculative private housing development, noting that it will only build new homes where they have been reserved. It also signalled its re-entry to new long-term affordable-only housing contracts, having paused activity in this area in its last financial year, amid concern over the Scottish Government’s affordable housing investment benchmarks. Those benchmarks were increased by 16.9% in June and Springfield said it has signed contracts for £9.7m on May 31 and another for £8.1m post-year end, with a further 13 under negotiation. The company reported a 22% fall in pre-tax profits to £15.3m for the year ended May 31 amid significant cost inflation, and trimmed its profit expectations to £10m-£14m for 2024. Chief executive Innes Smith declared that the “fundamentals of our business and our position within the Scottish housing market remain strong” despite the challenges the company was currently facing. He said: “The fundamentals of the Scottish market remain extremely positive, which is why our confidence remains strong in the medium and long term. “With Scotland one of the few places across the UK where it is still cheaper to buy than rent a home privately, affordability for home buyers is favourable. Plus, with house prices across Scottish regions holding strong, the market here has proven to be far more resilient than elsewhere. “We are pleased to see mortgage rates begin to normalise for our customers and look forward to experiencing re-energised customer demand when buyers seize this good time to buy. We will build homes as they are reserved to react to levels of demand. And we will continue to offer our customers an unrivalled level of choice and specification, build them a highly energy efficient home, which keeps their running costs low, alongside our fantastic customer service.” Springfield reported today that the 12 months to May 31 had been a year of record completions, which increased to 1,301 from 1,242. Its private housing division saw strong growth, boosted by the acquisitions of Tulloch Homes and Mactaggart & Mickel Homes, with revenue climbing by 45% to £253.4m. But revenue from affordable housing dipped by 16% to £53.9m as margins came under pressure from build cost inflation and the fixed cost of contracts. It noted that the Scottish Government had now revised affordable housing investment benchmarks for inflation. Springfield also said that during the year it had withdrawn plans for further projects in the private rented sector following the introduction of rent controls by the Scottish Government. Shares in Springfield closed down 9.92%, or 6p, at 54.5p. |
Posted at 20/9/2023 15:25 by aldriglikvid Pretty harsh reaction today, to be honest.Plans to sell approx. 1000 plots for +£50m i.e. current amount of wholly owned plots (+6500) should exceed market cap (and debt) with a substantial margin. Also, we shouldn't be more than 1 year from SPR returning to +£20m yearly PBT. Current market cap £58m. All the other builders delivered the same results and outlook, but received a decent share rally afterwards. I guess it's the cancellation of the dividend that hurts. Here at p/tangible book 0.35 one have to bid (I'd argue). What's not included in that price? |
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