Springfield Properties Share Discussion Threads

[trustman] 02/7/2019 13:23

Trading update today.
Does not look too bad.
I have aholding in ISA.


Springfield Properties Expects Further Growth In Second Half

(Alliance News) - Scottish homebuilder Springfield Properties PLC said Tuesday the strong growth seen in its Private Housing and Affordable Housing divisions in the first half continued into the second half.



Springfield said the second half growth - which saw an increase in completions - was supported by a "strong" housing market in Scotland.



"In addition, management's target of improving gross margins has been successfully achieved through strong sales rates and sustained prices combined with tight cost control," the company added.



Springfield said its Village developments "progressed well" in the second half.



In its Affordable Housing unit, Springfield noted further "good progress": "For example, under its local authority framework agreement for 10 developments, the group commenced the handover of homes at one of the developments, commenced construction at two developments, and secured development contracts for another two of the developments."



"Following the acquisition of Walker Group during the second half of the year, Springfield is in a strong position, with a presence in almost all of the key geographies within Scotland. The expanded land bank has secured activity for approximately 18 years and both of the group's divisions continue to be supported by strong market drivers. Consequently, the board of directors remains confident that the group will continue to achieve sustained growth, in line with market expectations, and deliver shareholder value."



Springfield is scheduled to release its full-year results for the period ended May 31 on September 17.

[trustman] 03/6/2019 09:44

Director buying shows a bit of confidence?

[paleface1] 16/4/2019 09:27

"Without foundation" you said it

No not my comment, mine is still on the council website from the original planning application 2010. I have a vested interest as I have lived in Dornoch all my life

The evidence is abundant all round the site for those that wish to see it, I believe there is photographs of the foundations before and after they were poured

[meganxmas] 16/4/2019 09:17

So paleface1 created 15 Aug 2018. Lossieloon 7 Jan 2019. Since 24/12 paleface about 8 posts all on Springfield. Lossieloon 8 posts all on Springfield. As I say a bit transparent guys.

[meganxmas] 16/4/2019 09:01

Ha ha I guess the public comment was you and u guess was removed because either proven without foundation and or malicious. A wee bit transparent no ???

[paleface1] 16/4/2019 09:00

megan it is not for me to do your research, come up to Dornoch site, walk around back of the site and to the affordable houses and seen the fall from their back gardens down to the burn there is about a 5m drop. that is all made up ground

At the entrance to the site the ground drops off 2-3m either side of the road and where the houses are built, that is all made up ground two years ago and all built with 300mm strip foundations.

Normally this would require pile foundations or a raft .......google it

[paleface1] 16/4/2019 08:49

Looking at the council website regarding the above development there was a public comment mentioning the foundations and the made up ground of said development, looks like the comments have been removed

I guess they didn't want the buyers of those houses to hear of the type of insecure ground their homes are built on

[meganxmas] 16/4/2019 08:27

Did you get sacked ?

[meganxmas] 16/4/2019 08:26

Ok so you have a beef with the company ... spill the beans

[paleface1] 16/4/2019 08:23

I noticed yesterday that springfield have got the diggers in to their site at Dornoch where they have completed the first 25 units pretty much

The diggers are excavating long trenches across a very large hill which has been part of the lanscape for every and they are planning to flatten this major piece of landscape to infill a deep run off area the other side of the hill where they want to built 188 units. The diggers are part of a supposed archaeological dig to check for pictish artifacts. There has already be artifacts found including burial sites before but that didn't stop them building

The 25 house already built are on ground that was infilled two years ago of up to 5 meters in places with around 300mm strip foundations

The site is not fit for purpose, hence jacking these houses up to get the fall required for the sewer waste

[lossieloon] 08/4/2019 16:19

hxxps://www.thetimes.co.uk/article/slowdown-may-send-scots-land-tax-off-target-b3p5l9h8b

Not good reading for the Scottish property market, can't say I'm surprised.

[paleface1] 22/3/2019 08:06

"I now hold shares" good luck with that one ;--)

[meganxmas] 12/3/2019 09:44

When a company has as many sites as Springfield it does not mention every site in results nor every area. Your approach treats the company as much smaller than it is. They have grown substantially over the last year both organically and via the Dawn and Walker acquisitions both of which were very good highly regarded housebuilders with reputations forged over many years. Every housing company has some slower sites and no company worth its salt simple builds to demand. That said it also manages the position to ensure no excessive build up. I believe that Springfield is well managed with strong facilities for growth. They are also very well regarded by their bankers. They also have a good management team and a well balance approach of affordable and private. Their acquisitions have strengthened this along with their land bank. Now I hold shares and possibly biased on upside ... you on other hand have no position / want no position but merely comment. I don't think so

[lossieloon] 12/3/2019 09:37

I just find it interesting how a company portrays itself to the market versus what's actually happening at the coalface.

None of their sites in Moray get a mention in their interim report, if they were performing well they'd be shouting about it.

[meganxmas] 12/3/2019 09:01

Why keep posting "facts" then ?

[lossieloon] 12/3/2019 08:51

Just stating facts that I've seen with my own eyes locally Meganxmas.

To be fair to them purchasing Walker group was a smart move as its a far more profitable company than Springfield.

I don't hold any position on SPR

[meganxmas] 12/3/2019 08:15

How short are you ?

[lossieloon] 12/3/2019 08:10

Had a wee run round the Springfield sites in Moray with MrsLL yesterday. Unsold stock continues to pile up on their jobs in Forres, both Elgin jobs and in Buckie. They're also pushing really hard with advertising on local radio which I think tells its own story.

My golf buddy was saying that construction has virtually dried up on their Nairn job also and most of the lads have been dumped into Elgin jobs.

It was also interesting to note that they haven't started on their new village on the south side of Elgin despite this being stated in their interim report to the market a few weeks ago.

[bpdon] 06/3/2019 09:33

Yup mcpaulas - I don't know where all the buyers are coming from..... or more importantly where they all work.

Quality is a big issue in the area. The fixtures and fittings on offer from Barratt and Tulloch are very poor IMHO. Kirkwood made a very grand entrance to the area and offered a relatively impressive specification at a fair price on two Inverness developments. Although they have now pared back that standard for their Culloden development, which was disappointing.

[mcpaulas] 06/3/2019 08:00

Barrat and Tulluch remain the key players in the highlands at the moment.They are building houses so fast in inverness that it makes you dissy to watch.There is planning in place to build thousands of new homes.One site that has barely started building is sold out and prices start at £600,000.

[bpdon] 05/3/2019 10:42

hxxps://masterinvestor.co.uk/equities/springfield-properties-is-cashing-in-on-scotlands-housing-boom/

[paleface1] 01/2/2019 11:34

Am with LL, they been laying slabs on solid frozen ground with frozen aggregate and then left through the night at -6

god help the poor mugs that are buying these