The group continued to experience high demand across the business, said the company. In particular, it said that sales of its private housing have been driven by people鈥檚 increased desire for more spacious homes, with gardens and green space and - especially with its 鈥榁illage鈥� developments 鈥� ones that have local amenities within walking distance.
As a result, the group expects revenue and profit to be ahead of market expectations, reflecting significant year-on-year revenue growth. The group has also continued to reduce net debt throughout the year.
At the end of the year, the group sold land - a total of approximately 200 plots - across two of its large developments in the Central Belt to two national housebuilders. Springfield said that these strategic sales reflect its continued focus on realising value from its large land bank and strengthening the Group鈥檚 balance sheet through cash generation.聽聽聽
The group will provide a further update in July on its trading for the year ended 31st May 2021.
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