Springfield Properties Share Discussion Threads

[lossieloon] 10/1/2019 11:04

Time will tell Meganxmas time will tell, an afternoon driving round their sites on the moray firth and a cross reference against their website would prove beneficial to any prospective investor.

[meganxmas] 10/1/2019 10:01

Know them well and you are scaremoungering.

[lossieloon] 09/1/2019 08:44

No agenda - just stating fact, take a drive round their sites in the North, in Elgin for instance they are building 3 times as much units as the other established developers put together.

They are the housebuilding equivalent of JLR, except JLR can hide their unsold stock on runways !!

[meganxmas] 08/1/2019 17:56

Hmmm member since er 7th January 2019 !!! You have an agenda per chance ????

[lossieloon] 08/1/2019 17:31

I'd proceed with caution re SPR. One of my golfing buddies works for them on their sites in the north.

Apparently building loads of stock on their sites that remain unsold and they are having to incentivise and discount aggressively, especially in Moray.

He reckons they've expanded too quickly and quality has taken nose-dive at the expense of ramping up completion numbers. He's worked with them for almost 12 years and used to speak really highly of them.

[paleface1] 24/12/2018 08:54

Foundation issues, building on made up ground of up to 3 meters, then laying a strip foundations of about 12 inches

Frost heave will have an effect in this situation, particularly in the Highlands where the ground is currently frozen and is not even middle of winter as yet

[trustman] 06/12/2018 13:08

Lets hope its not the weak mortar issue being aired today in generic terms.

[trustman] 19/9/2018 16:29

Many thanks, much appreciated.

[jonwig] 18/9/2018 13:51

A development with structural issues. I didn't make a note but will try to discover. Will contact off board if I've any success.

[trustman] 18/9/2018 13:26

Good results, attractive dividend.
I suspect margins artificially depressed by Redrow rump sales-where they shared proceeds but didn't pay capital as far as I recall.
I expect to see margins lift this year.
Can you please remind me what spooked Jimarilo?
Thanks,T

[jonwig] 18/9/2018 07:55

Their annual results are out today:



Their gross margin is 15.7%, yet larger UK housebuilders seem to have much larger GMs (CRST, poorly-rated over 30%). Is it the affordable housing which depresses them? But that has the advantage of being more stable income.

[warranty] 22/8/2018 18:59

Maybe I've misread it then jonwig, many thanks for putting me right. I don't hold yet but it is certainly an interesting company. I particularly like the fact that the senior management hold most of the shares so have a definite vested interest and though there is little information so far, earnings and profits seem to be going in the right direction. With a prospective yield around 5% and little appreciable risk that I can see, it may be a sound investment for the long term for my ISA. Thanks again for your help.

[jonwig] 20/8/2018 18:56

@ warranty - they haven't yet produced annual results: do you have the right company?

In the recent acquisition document (May) they say "... it intends to pay a final dividend per Ordinary Share in respect of the year ending 31 May 2018 in line with previous expectations."

For information, I sold after the exchange here with Jimarilo. Unfortunately he removed the posts and foolishly I didn't keep a record.

[warranty] 20/8/2018 18:32

Interesting and growing company this but does anyone know why they didn't choose to pay a final dividend? I can find confirmation from the annual report that they didn't intend to but can't find any reason why?

[ntv] 16/7/2018 11:22

the answer is never buy a new house

[jimarilo] 16/7/2018 08:22

someone didn't like these posts, so I have removed them

[jonwig] 16/7/2018 08:05

@ Jimarilo - OK, thanks.

When researching property companies, I tend to look for web comments about housebuilders. Some are full of negatives (Keepmoat maybe the worst, but Persimmon figures, too). I found relatively few for SPR, and didn't find this one of course (as it's dated post-IPO).

Basically, what I'm saying is that these are sector-wide risks and an occasional bad experience shouldn't negate the investment story. Actually, one potential problem with SPR did cause me to pause when investing: asbestos at Milton of Campsie. I went ahead despite this.

[jonwig] 16/7/2018 07:37

Trading update:



Not often we get ones which are wall-to-wall good news!

@ Jimarilo - well, thank you for that, but a web search suggests you're the only one in possession of this knowledge. Can you provide corraborating evidence? After all there is lots of 'fake news' around.
Presumably that's your own picture.

[jonwig] 01/6/2018 08:05

The new NED appears to be a specialist in business expansion. Appropriate, I think.

[jonwig] 22/5/2018 17:18

Here's a turn-up - funds controlled by George Soros (SFM UK, etc.) have taken 6,545,189 shares (6.79p).

[m1das_touch] 02/5/2018 20:12

Haha - living up to the name is a challenge tho!

Quiet board here...think this will do really well once it gets on the radars of more private investors and institutions. Potential for significant growth and growing income so should attract both traders and investors.