REG - Springfield Props. - Springfield signs £6m affordable housing contract

Springfield PropertiesAnnouncement

30/05/2024 07:00

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RNS Number : 3585Q  Springfield Properties PLC  30 May 2024

30 May 2024

 

Springfield Properties plc

("Springfield", the "Company", the "Group" or the "Springfield Group")

 

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."

 

 

Enquiries

 

 Springfield Properties
 Sandy Adam, Chairman                                          +44 1343 552550

 Innes Smith, Chief Executive Officer

 Iain Logan, Chief Financial Officer

 Singer Capital Markets
 Shaun Dobson, James Moat, Oliver Platts (Investment Banking)  +44 20 7496 3000

 Gracechurch Group
 Harry Chathli, Claire Norbury, Henry Gamble                   +44 20 4582 3500

 

Analyst Research

 

Equity Development and Progressive Equity produce freely available research on
Springfield Properties plc, including financial forecasts. This is available
to view and download here:

https://www.thespringfieldgroup.co.uk/news/updates-and-analyst-reports
(https://www.thespringfieldgroup.co.uk/news/updates-and-analyst-reports)

 

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