Springfield Properties PLC Progressive publishes new research

TIDMSPR

Springfield Properties PLC

22 June 2022

 
Forecasts up after 'pay-as-you-go' acquisition 
 We have raised our FY2023E and FY2024E PBT estimates for Scotland's only quoted housebuilder 
 by 5% and 10%, respectively, following its GBP46m acquisition of the housebuilding business 
 of Mactaggart & Mickel Group. The deal is structured with payments phased over five years 
 in line with homes sold, so we are not changing our net debt estimates. Springfield also reiterated 
 guidance for FY2022E, with improved net debt.

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June 22, 2022 03:42 ET (07:42 GMT)

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