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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 | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -1.00 | -1.14% | 87.00 | 40,348 | 12:47:56 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 86.00 | 88.00 | 88.00 | 87.00 | 88.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Operative Builders | 266.53M | 7.55M | 0.0636 | 13.68 | 104.39M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 15:03:43 | O | 19,082 | 87.00 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 30/10/2024 | 15:08 | UK RNS | Springfield Properties PLC Result of AGM |
| 29/10/2024 | 09:24 | UK RNS | Springfield Properties PLC Grant of SAYE options & performance share awards |
| 15/10/2024 | 09:08 | UK RNS | Springfield Properties PLC Director Shareholding |
| 10/10/2024 | 11:56 | UK RNS | Springfield Properties PLC Director Shareholding |
| 01/10/2024 | 12:01 | UK RNS | Springfield Properties PLC Notice of Annual General Meeting |
| 17/9/2024 | 06:21 | UK RNS | Springfield Properties PLC Progressive publish new research |
| 17/9/2024 | 06:00 | UK RNS | Springfield Properties PLC Final Results and Publication of Annual Report |
| 29/8/2024 | 06:00 | UK RNS | Springfield Properties PLC Notice of Results |
| 02/8/2024 | 11:57 | UK RNS | Springfield Properties PLC Block Listing Interim Review |
| 11/7/2024 | 18:23 | ALNC |  TRADING UPDATES: Titon warns on trading; Videndum revenue in-line |
Springfield Properties (SPR) Share Charts1 Year Springfield Properties Chart |
|
1 Month Springfield Properties Chart |
Intraday Springfield Properties Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 15/10/2024 | 18:40 | Springfield Properties | 330 |
| 10/2/2021 | 09:34 | Springfield Properties | - |
| 25/2/2015 | 10:58 | Sperati plc | 122 |
| 13/8/2013 | 09:58 | debate: future super power of asia | 16 |
| 25/10/2007 | 10:03 | Free ADVFN upgrade | 76 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 16:03:43 | 87.00 | 19,082 | 16,601.34 | O |
| 14:04:51 | 86.10 | 93 | 80.07 | O |
| 12:47:56 | 88.00 | 5 | 4.40 | O |
| 12:47:56 | 88.00 | 3 | 2.64 | O |
| 12:15:01 | 86.15 | 1,147 | 988.14 | O |
| Top Posts |
|---|
Posted at 03/12/2024 08:20 by Springfield Properties Daily Update Springfield Properties Plc is listed in the Operative Builders sector of the London Stock Exchange with ticker SPR. The last closing price for Springfield Properties was 88p.Springfield Properties currently has 118,625,256 shares in issue. The market capitalisation of Springfield Properties is £103,203,973. Springfield Properties has a price to earnings ratio (PE ratio) of 13.68. This morning SPR shares opened at 88p |
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 11/7/2024 06:29 by edmonda "Strong delivery against cash generation targets"Springfield’s year-end trading update confirms a positive conclusion to FY24 with profit and cash generation both ahead of forecast despite the challenging market backdrop. The key focus for the year was debt reduction and Springfield has once again proven its ability to reduce debt rapidly in response to changing market conditions. Bank debt reduced by over £20m during the year to c.£40m, well below management’s original £55m target. Current trading is steady, and Springfield is well positioned to capitalise on any improvement in market conditions. Full year revenue is expected to be c.£266m, a 20% reduction year on year, reflecting challenging market conditions as well as Springfield’s decision to pause new affordable-only contracts during FY23. Revenue is therefore c.7% lower than forecast, but the impact has been more than fully offset by profitable land sales completed during the period. We make no notable changes to our FY25 forecasts, which were already conservatively positioned and assume only modest revenue growth year-on-year. We note that Springfield continues to trade at a marked discount to sector peers, notably a c.33% discount on a P/Book basis. We reiterate our Fair Value / share estimate of 140p, which equates to FY’25 P/E rating of 17.5x and P/Book of 1.0x. Link to research: |
Posted at 03/6/2024 06:29 by edmonda "Barratt collaboration to accelerate Durieshill Village" - new research report here: Springfield has entered into a strategic collaboration with Barratt for the development of the group’s Durieshill site. Springfield and Barratt will work together to develop this new, sustainable 3,000 home village within commuting distance of Edinburgh and Glasgow. Barratt has made a cash payment of £10m to Springfield and will, in consideration for half the land at Durieshill, provide and fund the infrastructure development for the entire site over the next five years. The cash payment of £10m reduces Springfield’s bank debt to £41m as of 31st May, well below the stated target of £55m. More significantly, Barratt infrastructure funding will materially accelerate the development of the site, whilst also eliminating Springfield’s requirement to tie up capital for the next five years, This minimises development risk to Springfield and optimises the group’s return on capital. In addition, Zoopla’s House Price Index for April was published last week. On their measurement, house price inflation was -0.1% for the UK, but with regional variations. They highlight 1.4% price growth in Scotland in contrast with negative inflation in London and the South of England. Given today’s positive news, we increase our ED Fair Value / share to 140p (from 130p). This is based on sector average ratings (FY’24 P/E of 17.5x and P/Book of 1.0x) and still looks undemanding to us. |
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 21/2/2024 09:14 by alan@bj A strong recommendation yesterday from Investors Chronicle, which cites three reasons for optimism and ends, "On this basis, the shares are priced on a forward price/earnings (PE) ratio of 9.4 as well as 46 per cent below book value estimates of 141p – a harsh rating given green shoots of recovery. Buy." |
Posted at 20/2/2024 07:13 by edmonda Interim Results - "Looking to the future with confidence"New research report with audio summary here: Springfield has reported encouraging H1 results, reiterating full year expectations and confidence in longer term growth prospects. The strategy to maximise cash generation is bearing fruit, costs are being carefully controlled and there are signs of market recovery, both in terms of Affordable contract successes and, more recently, a pick-up in Private Housing activity since mid-January. It is too early to extrapolate but the average weekly reservation rate in Private Housing since mid-January has been 62% higher than for the year to that point Debt reduction is a clear priority for management and today’s results highlight the progress that has been made in realising cash from the land bank in recent periods. Springfield has one of the largest land banks in Scotland and an excellent reputation in both Private and Affordable Housing. With increasing confidence in forecasts and improving market sentiment, we believe the 40%+ discount to sector peers is unwarranted and reiterate our ED Fair Value/Share of 130p (Price/ Book multiple of c.1.0x). |
Posted at 13/12/2023 08:45 by edmonda "Increasing confidence, debt reduction on track"New report with audio summary here: Springfield’s half year trading update (six months to Nov ’23) confirms an in-line performance for H1 and reiterates full year expectations. After a challenging period for the sector, it is a reassuring update, pointing to subdued but stable conditions in Private housing, increasing activity within Affordable housing and clear progress with the Board’s debt reduction strategy. Recent indicators suggest that the market may be stabilising (notably mortgage approvals ticking up in October as interest rates appear to have peaked) giving us confidence to introduce FY25 forecasts within this note. Springfield’s shares have recovered somewhat over recent weeks, alongside sector peers, but still trade on just 9x P/E and 0.5x P/Book for FY25. With increasing visibility of profit recovery and cash generation, we increase our ED Fair Value to 130p (from 110p) based on a sector average Price/ Book multiple of 1.0x. |
Posted at 22/2/2023 08:56 by scotches SHARES in Springfield Properties plunged by nine per cent after the Elgin-based housebuilder revealed spiralling inflation had led it to pause activity in the affordable housing market, sparking an unspecified number of redundancies at the company.Springfield declared the impact of cost inflation on fixed-price contracts in affordable housing had offset the growth it had seen in the private market as it reported profits had fallen by 5% to £5.9 million in six months to November 30. The company said it will not enter any new long-term fixed contracts for affordable housing until market conditions improve. And chief executive Innes Smith said it would not invest in speculative building in the near future, with the company focusing on reducing its debt. Profits at Springfield dipped in the first half amid the fall-out from former Prime Minister Liz Truss’s mini-Budget in September, which Mr Smith said had reduced homebuyers’ confidence and increased the cost of mortgages “significantly He told The Herald that Springfield has seen “green shoots” in the New Year, with reservation rates gradually increasing in January, but said the recovery had still to be established. Springfield underlined the impact of its acquisitions of Mactaggart & Mickel Homes in July and Tulloch Homes in December 2021, as revenue from its private housing business increased to £118.6m in the first half from £47.3m at the same stage last year. The company completed 429 homes in the first half, and is on track to deliver 1,200 for the full year, the company said. However, revenue from affordable housing dipped by 12% to £27.9m from £31.7m amid the impact of cost inflation on fixed price contracts that were signed two to three years ago, which reduced margins. Overall revenue increased by 85% to £161.9m. Springfield said it would hold back from further work in affordable housing until conditions improve and the Scottish Government reviews its affordable housing investment benchmark. Next year, affordable housing will account for 13% of Springfield’s business, compared to the 30% it has been responsible for previously. “It has just become an incredibly difficult market,” Mr Smith said. “We have had 15 very good years of affordable. It’s a bad year this year so clearly we are pulling back and we have got the projects right down on affordable. “But on the positive side the customer reservations are up.” Mr Smith noted reservation rates in the private housing had steadily recovered in January to levels seen before the Truss mini-Budget, declaring that “there is more confidence in the market”. He added: “People can see where the mortgage rates are at. Inflation is on its way down. We have seen prices remain stable. We have had no price decreases and we have no need of doing that so we do think the green shoots are there. Whilst we can’t quite see the flowers, we do see the green shoots.” Mr Smith went on to highlight the falling price of commodities such as natural gas, oil and timber, which he said will accelerate as housebuilders reduce output and, ultimately, feed through to energy bills and the cost of living. “That is coming, so that is clearly a positive,” he said. Springfield reported that it undertook a restructuring further to its £46.3m acquisition of the housebuilding business of Mactaggart & Mickel which, along with other actions to save costs, will lead to annualised cost savings of around £3m. Asked where the savings have been made, Mr Smith said “some senior management have left the business” further to the restructuring, while other people have departed and not been replaced. He said: “Obviously, as turnover has gone down in affordable [housing], then unfortunately redundancies have had to happen. “That is one of the consequences of taking the foot off the gas. “There are real people getting impacted – [it is not just that] they are not getting the houses, [there are] employees that are no longer here because of that.” Asked to specify how many people had been made redundant, Mr Smith said: “I would prefer not to.” Springfield currently directly employs around 900 people, plus a further 1,500 on a sub-contracted basis. The company has also stepped back from building homes for the private rented sector, following the move by Scottish ministers to cap rent increases to help people amid the cost-of-living crisis. It had previously been planning to build 300 PRS homes in partnership with Sigma Capital Group. Springfield reported that net debt stood at £73.7m on November 30, compared with £38m at May 31. It noted that the increase reflected the “usual working capital cycle... with significant work-in-progress at period-end for delivery in the second half of the year and in the next financial year, as well as the Mactaggart & Mickel Homes acquisition.” Shares closed in Springfield Properties closed down 8p, or 9%, at 80p. |
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