Springfield Properties PLC Progressive publishes new research

TIDMSPR

Springfield Properties PLC

29 September 2020

 
Sales and cashflow rebound as lockdown lifts 
 Scotland's only quoted housebuilder's home completions and cashflow have recovered sharply 
 from the country's prolonged lockdown, with delayed sales fuelling what the Group predicts 
 will be a strong first half to the current financial year. Today's FY 2020 results, to May, 
 show the impact of the lockdown in the final two months, which normally account for almost 
 a third of sales, but confirm that delayed sales are expected to add to strong underlying 
 demand in H1 2021, with debt having fallen by over GBP25m in four months and a 2p final dividend 
 proposed. Our reinstated forecasts assume PBT surpassing the previous record by FY2022E and 
 debt continuing to fall. 
 

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Progressive is an equity research and investor engagement company. FCA authorised and regulated, the firm has a 15-strong team of highly experienced analysts. We provide Institutional grade research and connect companies with investors across every sector of the market.

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         Broad coverage                      Analyst calibre 
       across 12 sectors 
 
 Business Services   Oil & Gas       15        with average       20 
                                   analysts                      years 
    Financials        Property                  experience 
                                                    of 
    Healthcare         Retail 
    Industrials      Technology      30+                       techMARK 
 Investment Trusts    Telecoms                industry based    Extel 
      Mining         Utilities                    awards       StarMine 
 

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September 29, 2020 04:14 ET (08:14 GMT)