Springfield Properties PLC Progressive publishes new research
December 13 2023 - 2:01AM
RNS Non-Regulatory
TIDMSPR
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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