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Growth to continue this year

Springfield builds on record annual profits

innes-smith-springfieldScottish housebuilder Springfield Properties has reported record profits and is confidently predicting more growth on the back of developments coming on stream.

The company unveiled a 64% rise in profits to £5.1 million for the year to May on revenue up 8% to £91m. It sold 495 homes, 4% higher than last year’s 478.

Managing director Innes Smith (pictured) said: “Our success this year bodes well for future profit growth which will be sustained with more new sites coming out of planning and into production.

“Next year we will begin building on a 3,500 home village in Perth, a 750 home development in Dundee and a 2,000 home village in Elgin. We are progressing planning for a 2,500 home village near Stirling and a further 800 home development at the Wisp, Edinburgh.

“Springfield has reported a profit and growth in every year of trading. This will continue next year, with turnover rising to £100m as increasing success drives the business forward. We are delighted to have recently secured a two-year funding package from our bank to deliver these opportunities.”

The company directly employs 450 and more than 1,000 work exclusively on Springfield projects every day. About 20% of the workforce are apprentices or trainees. It has about 40 live sites across Scotland.

 



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