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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 | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-3.50 | -3.55% | 95.00 | 93.00 | 97.00 | 98.50 | 95.00 | 98.50 | 6,621 | 11:00:16 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Operative Builders | 332.13M | 12.07M | 0.1018 | 9.33 | 112.69M |
Date | Subject | Author | Discuss |
---|---|---|---|
27/4/2021 11:55 | Very strong update from Simon Thompson in the last hour on IC Investor Forum. Remains significantly undervalued and strong momentum to follow. | mnuttall69 | |
25/4/2021 10:20 | The property market boom has seen demand for homes rise to the highest level in two decades and is in no danger of slowing down any time soon, according to Taylor Wimpey's head honcho. Chief executive Pete Redfern believes the clamour for new housing will continue even if the Government ends the support for buyers which has turbo-charged house prices and purchases since last summer. 'I have more confidence than at any time in the last 20 years about underlying demand,' he said. | dros1 | |
25/4/2021 10:08 | Simon Thompson ftom IC Interim results from Springfield Properties (SPR:155p), a housebuilder focused on developing a mix of private and affordable housing in Scotland, highlight why I included the shares in my 2021 Bargain Shares Portfolio. First half pre-tax profit surged 42 per cent on revenue up 18 per cent to £94m and net debt has more than halved to £33.2m since the 30 May 2020 financial year-end. Chief executive Innes Smith says that Springfield is in “as good as a position as we have ever been.” In fact, the company is trading ahead of Progressive Equity Research’s full-year forecasts which point to revenue rising 23 per cent to £178m to deliver 48 per cent higher pre-tax profits of £15.1m and EPS of 12.3p. On this basis, expect a full-year dividend per share of 4.5p, a pay-out that is well covered by forecast free cash flow of 30p a share. The housing market backdrop remains very positive. Demand for housing in Scotland continues to outstrip supply with R.I.C.S. reporting 8.6 per cent annual house price growth in the 12 months to 30 November 2020. Mortgage availability remains good and with interest rates on the floor, Springfield’s lower entry price homes remain affordable for first time buyers who can even tap a £25,000 interest free equity loan from the Scottish Government’s First Home Fund. In the first half, 311 private sales completed at an average selling price of £239,000 and 132 affordable homes at £148,000 per unit. Also, the Scottish Government have committed £787m to affordable housing delivery in the next fiscal year. Even the Covid-19 pandemic is playing into Springfield’s hands as more home purchasers are looking for the type of affordable housing in green spaces that Springfield provides. It’s worth noting that the company has entered a strategic partnership with private rental sector (PRS) housing specialist Sigma Capital Group (SGM) to provide 75 PRS homes at Springfield’s Bertha Park Village scheme near Perth. Springfield has three active Village schemes (7,000 homes) under development and a further two schemes which have potential to deliver 5,542 homes (Livingston and Stirling). There is obvious scope to scale up the partnership with Sigma. The company’s share price has risen by over 10 per cent since I suggested buying and it’s reasonable to expect the re-rating to continue. A forward PE ratio of 10 for the 2021/22 financial year still represents a 13 per cent discount to listed peers even though the company could easily outperform the 26 per cent growth embedded in analysts’ 2021/22 EPS forecasts. Worth noting too that £1m of the forecast £4.5m growth in pre-tax profit in the 2021/22 financial year is covered by annualised costs savings made in the current year, and long lead times (six to nine months) on home sales offers strong revenue visibility to support forecasts. There is even hidden value in the company’s balance sheet. Springfield’s 15,029-plot land bank has a gross development value of £3.1bn and stretches out 15 years at current build rates, but land and work in progress is carried in the accounts at only £155m. The reported price-to-book value of 1.5 times is far closer to parity if land is marked to market value. Buy. | dros1 | |
13/4/2021 11:25 | quite a lot directors selling lately . wonder why | dros1 | |
03/3/2021 09:07 | Ex-dividend tomorrow though. | alan@bj | |
02/3/2021 17:15 | If UK govt extends stamp duty holiday in the budget tomorrow (as expected) then I would expect to see a slight climb here in anticipation of Scotland following suit and helping to buoy up the housing market | paulo435 | |
28/2/2021 18:53 | Thanks for clarifying guys. I guess we need to put it into perspective, as you say GN, they are still substantial holders and it’s all relative to their overall position. Everyone needs cash at some point and as they say never put all your eggs in one basket. The point that they were snapped up so quickly/pre arranged still shows the market that big investors are interested. I’d be more worried if they didn’t have that interest. | paulo435 | |
28/2/2021 18:40 | That's correct - no money comes to the Company from this. The concern is that two senior members of the Company possibly don't see value in the Company at the moment and/or have found a better use for their money. The other side of the coin is that their remaining shares - a considerable amount - are locked in for 6 months. Hopefully the market will take this in its stride Monday morning. | gn100 | |
28/2/2021 17:47 | It's a placing of shares for instis by 2 board members, Paulo, so not a funding for the company coffers. | jonut | |
28/2/2021 14:43 | Seen now, hmmm, all done and dusted within the hour. However long term it should be seen as a positive move I would think for us - big investor seeing value and pumping their coin in. Depends what’s done with the funding of course but an investment of this scale isn’t a bad thing | paulo435 | |
27/2/2021 18:47 | Interesting that the placing was completed quickly - I guess at that price the Instos would have been daft to not snap it up. Looking at the order book on L2 I think very few trades showed near to the offer price so I'm hopeful that the price will be reasonable on Monday. These sort of moves tend to make me feel shafted. | gn100 | |
27/2/2021 18:31 | Placing yesterday afternoon at 138p. Little bit crafty... | johndoe23 | |
27/2/2021 16:26 | What do you mean gn? I couldn’t access link properly | paulo435 | |
27/2/2021 11:01 | That was a nasty trick releasing the placing news at 1519 on a Friday. What happened to releasing market sensitive info out of hours? | gn100 | |
24/2/2021 11:40 | Boom what? | paulo435 | |
24/2/2021 08:46 | Boom 💥🚀 | middlesboroughfc | |
24/2/2021 07:44 | It looks well placed in the medium term. | 18bt | |
23/2/2021 19:11 | Seemed a reasonable enough set of interims today and a small rise in the SP | paulo435 | |
21/2/2021 22:18 | hTTps://www.thisismo | davebowler | |
10/2/2021 09:34 | 1 Year All | spob | |
07/2/2021 19:55 | Interims on Feb23rd. Price firming nicely in advance. | trustman | |
05/2/2021 08:30 | No have some already. Might top up if it falls back as ST's recs often do a month or two post pub. | 18bt | |
05/2/2021 07:46 | are you buying some ? | spob | |
05/2/2021 07:20 | In new ST Bargain Shares Portfolio 2021 in the IC out this morning. | 18bt |
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