Springfield to boost turnover to £330m following acquisitions

By Carl Brown2023-07-19T12:00:00

But housebuilder’s profit set to be lower than previous year

Springfield expects to increase its annual revenue by 28%.

The Scottish housebuilder, in a trading update for the year ending 31 May, said its revenue will be around £330m.

It said its turnover was boosted by the acquisitions of housebuilders Tulloch Homes and Mactaggart & Mickel Homes.

Springfield said its profit for the year will be in line with its expectations, but lower than the £18.4m pre-tax profit reported last year due to “significant build cost inflation, particularly on fixed-price contracts in affordable housing, affecting margins across the group.”

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