RCS - Springfield Props. - Progressive publish new research

Springfield PropertiesAnnouncement

20/02/2024 08:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240220:nRST7574Da&default-theme=true

RNS Number : 7574D  Springfield Properties PLC  20 February 2024

 Springfield Properties plc:

 On track as market recovery builds momentum

 Today's interim results show that Springfield remains on track to meet FY24E
 expectations for both earnings and, helped by profitable land sales, debt
 reduction - amid gathering signs of recovery in all three of Springfield's
 sectors: private sales, affordable housing and, as Scotland's rent controls
 end, private rental. We maintain our FY24E and FY25E estimates but suggest our
 volume forecasts may be conservative. We believe the Barratt Redrow deal could
 highlight Springfield's low valuation.

 Click here for full analysis
 (https://progressive-research.com/research/on-track-as-market-recovery-builds-momentum/)

 

Subscribe (https://www.progressive-research.com/register/)  to Progressive's
research, which is freely available to every type of investor, and be kept
informed about our regular programme of investor engagement.

 

About Progressive:

 

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.

 

www.progressive-research.com (http://www.progressive-research.com)

 

 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

 

 

For further information please contact:

Progressive Equity

+44 (0) 20 7781 5300

info@progressive-research.com

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRATMMPTMTBTMBI