Profit surge for Springfield

Springfield Properties’ pre-tax profit increased 96% during its financial year following a series of land sales, while completions fell due to subdued market conditions.

During the year ending May 31 2025, the Scottish housebuilder’s pre-tax profit was £19 million, up from 2024’s £9.7 million, with revenue climbing 5.3% to £280.6 million. Operating profit improved 42.4% to £24.2 million.

Springfield highlighted an agreement during the period with Baratt Redrow for the sale of 2,480 plots of undeveloped land with planning across six sites, primarily in central Scotland, for £64.2 million in cash.

Springfield said the sale to the volume housebuilder had “made an important contribution to revenue”. It had also accelerated the reduction of the group’s bank debt to £20.9 million from £39.9 million a year previously, helping it pursue opportunities in the north of Scotland where it has refocused its strategy.

In this part of Scotland, Springfield said there were “substantial” opportunities coming from incoming energy security infrastructure and renewable development.

It said it was at “advanced stage” discussions with infrastructure providers for their housing requirements.

During its financial year, Springfield’s total completions were 799 against the previous year’s 878. Private …