RCS - Springfield Props. - Progressive publishes new research

Springfield PropertiesAnnouncement

13/12/2023 08:15

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RNS Number : 6217W  Springfield Properties PLC  13 December 2023

 Profitability and debt reduction on track

 Springfield has confirmed in its first-half trading update that it is
 'confident of meeting market expectations' for profitability and debt
 reduction for the full year to May. We retain our FY24E PBT estimate and
 introduce forecasts for FY25E that show 26% growth in adjusted PBT and a
 further substantial decline in debt. We expect the Group's recovery prospects
 will be supported by shortages of housing across all tenures and the major
 economic stimulus from the newly created Highlands freeport.

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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
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 Investment Trusts  Telecoms                  industry based  Extel
 Mining             Utilities                 awards          StarMine

 

 

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