Springfield half year profit falls as costs rise

By Joey Gardiner2023-02-21T10:49:00

Scottish housebuilder says it has made £3m of savings in wake of market conditions

Pre-tax profit at listed Scottish housebuilder Springfield fell by 5% in the first half of its financial year despite soaring turnover as it weathered rising construction costs and reduced buyer confidence.

The housebuilder, which recorded turnover growth of 85% in the six months to 30 November on the back of major acquisitions in 2021, said its pre-tax profit had nevertheless slipped to £5.9m, from £6.2m the previous year.

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