Preparing the ground for a significant opportunity

Springfield's FY25 results are in line with expectations, confirming a year of very strong growth driven by the transformational land sale to Barratt.

Profits increased by 90% and net debt halved, as the Group refocused its activities on the North of Scotland.  This region is expected to see a surge in infrastructure investment over the next decade, and the Highland Council is targeting delivery of 24,000 homes, a doubling of housing output. 

To capitalise on the opportunity, Springfield is developing a build and lease model, alongside its traditional house building activities. This introduces a new, highly visible and profitable rental revenue stream.

Springfield's strategy to capitalise on the opportunity is crystallising and we reiterate our 150p fair value estimate.