Brief: Springfield Properties Remains Cautious About Near-Term Outlook On Softening In Demand

Springfield Properties

19/07/2023 07:29

July 19 (Reuters) - Springfield Properties PLC
 SPRSP.L :
    * SPRINGFIELD PROPS.  - TRADING UPDATE
    * SPRINGFIELD PROPERTIES PLC - FULL YEAR 2023 REVENUE
EXPECTED TO
BE ABOUT £330M, REPRESENTING YEAR-ON-YEAR GROWTH OF 28%
    * SPRINGFIELD PROPERTIES PLC - PROFIT BEFORE TAX FOR FY 2023
EXPECTED TO BE IN LINE WITH MARKET EXPECTATIONS
    * SPRINGFIELD PROPERTIES PLC - NET DEBT REDUCED TO £68.0M AT
YEAR
END (30 NOVEMBER 2022: £73.7M)
    * SPRINGFIELD PROPERTIES PLC - MARGINS WERE IMPACTED BY
SIGNIFICANT BUILD COST INFLATION, PARTICULARLY IN AFFORDABLE
HOUSING
    * SPRINGFIELD PROPERTIES PLC - REMAIN CAUTIOUS ABOUT
NEAR-TERM
OUTLOOK, GIVEN SOFTENING IN DEMAND FOLLOWING INCREASE IN RATES
BY BANK OF ENGLAND TO 5%

Source text for Eikon:  ID:nRSS4385Ga 
Further company coverage:  SPRSP.L 

 ((Reuters.Briefs@thomsonreuters.com;))