Progressive publishes new research
Springfield confident of meeting market expectations for full-year profitability and debt reduction.
vs expectations: in line
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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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