Business and Finance
Source : (remove) : The Daily Telegraph
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Business and Finance
Source : (remove) : The Daily Telegraph
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This housebuilder is making inroads to better profit margins


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  We are still sitting on a paper loss on housebuilder Springfield Properties, but a lowly valuation should protect...

The article from The Telegraph discusses Springfield Properties, a Scottish housebuilder, which has reported a significant increase in profits, with pre-tax profits rising by 57% to £19.2 million for the year ending May 31. Despite challenges like rising costs and economic uncertainty, the company managed to increase its revenue by 23% to £338 million, driven by a strong demand for housing. Springfield's shares have seen a positive response, rising by 10% following the announcement. The company's CEO, Innes Smith, highlighted the resilience of the housing market and expressed confidence in future growth, supported by a robust order book and strategic land acquisitions. However, the article also notes potential headwinds such as inflation, interest rate hikes, and the broader economic environment which could impact future performance.

Read the Full The Daily Telegraph Article at:
[ https://www.telegraph.co.uk/money/investing/stocks-shares/springfield-housebuilder-profits-bode-well-shares/ ]

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