**Summary of Springfield Properties PLC Interim Results for H1 2026 (Period Ended 30 November 2025)**
**Financial Highlights**
**Revenue Growth** Revenue increased by 2% to £108.0 million (H1 2025: £105.6 million), driven by strong growth in affordable housing (+26%) and land sales (+92%), offsetting declines in private housing (-9%) and contract housing (-40%).
**Profit Before Tax** Increased by 6% to £3.7 million (H1 2025: £3.5 million), with adjusted profit before tax up 8% to £4.1 million.
**Net Bank Debt** Reduced significantly by 37% to £39.6 million (H1 2025: £62.9 million), reflecting strategic debt reduction efforts.
**Earnings Per Share (EPS)** Basic EPS rose by 5% to 2.39p (H1 2025: 2.27p), with adjusted basic EPS up 6% to 2.61p.
**Operational Highlights**
**Total Completions** 316 homes completed (H1 2025: 361), reflecting market conditions and strategic focus on the North of Scotland.
**Affordable Housing** Strong performance with almost all FY 2026 forecast revenue already delivered or contracted.
**Land Bank** Large, high-quality land bank of 7,305 owned and contracted plots, with 63% having planning permission. Includes 4,362 plots in the North of Scotland, demonstrating a strong regional position.
**SSEN Transmission Agreement** Post-period, signed an initial agreement to deliver nearly 300 homes in the North of Scotland as part of SSEN Transmissions infrastructure upgrade program.
**Strategic Developments**
**North of Scotland Focus** Progress in implementing a new strategy to capitalize on substantial opportunities in the North of Scotland, driven by energy infrastructure and renewable development.
**Customer Satisfaction** Maintained high customer satisfaction at 97%, with 100% compliance in on-site audits under the New Homes Quality Code.
**Outlook**
**Full-Year Expectations** On track to deliver results in line with market expectations, with underlying growth expected when excluding exceptional land sales contributions from FY 2025.
**Market Conditions** Improved consumer confidence post-UK Budget and interest rate cuts are expected to boost homebuying.
**Affordable Housing** Confident of achieving revenue growth in affordable housing for FY 2026.
**North of Scotland Opportunities** Excited about significant prospects in the region, with further agreements expected with infrastructure providers.
**Conclusion**
Springfield Properties PLC delivered solid interim results, with increased profits, reduced debt, and strategic progress in the North of Scotland. The company remains confident in its full-year outlook and is well-positioned to capitalize on regional opportunities, supported by a strong land bank and improving market conditions.