Scotland's Springfield Properties H1 revenue rises 2% on affordable housing growth

Springfield Properties

17/02/2026 07:14

Overview

Scotland housebuilder's H1 2026 revenue rose 2%, driven by affordable housing and land sales

Company signed agreement with SSEN Transmission for housing delivery in North Scotland

Net bank debt reduced significantly compared to previous year

Outlook

Springfield expects FY 2026 growth in private and affordable housing revenues

Company anticipates improved consumer confidence boosting private housing sales

Springfield sees significant prospects in North of Scotland with SSEN Transmission agreement

Result Drivers

AFFORDABLE HOUSING GROWTH - Affordable housing revenue increased by 26%, offsetting declines in other segments

LAND SALES BOOST - Revenue from land sales nearly doubled, contributing significantly to overall revenue growth

PRIVATE HOUSING DECLINE - Private housing revenue fell 9% due to market conditions and longer sales cycles

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
GBP 108 mln
H1 Gross Margin
15.80%
H1 Adjusted EBIT
GBP 5.60 mln
H1 Adjusted Pretax Profit
GBP 4.10 mln
H1 Basic EPS
GBP 0.02
H1 EBIT
GBP 5.30 mln
H1 Pretax Profit
GBP 3.70 mln


Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the homebuilding peer group is "buy."

Wall Street's median 12-month price target for Springfield Properties PLC is GBp152.00, about 17.8% above its February 16 closing price of GBp129.00

The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 14 three months ago

Press Release: ID:nRSQ2428Ta

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)