Scottish housebuilder, Springfield Properties, has reported an increase in profit and turnover in its half-year results, with its affordable housing activity boosting offsetting a dip in private sales.
For the six months to 30 November 2025, the housebuilder recorded revenue of £108million, up 2% from £105.6million the previous year. It saw a significant increase in affordable housing revenue, rising 26% to £25.8million, but its private housing revenue fell 9% from £72.1million to £65.4million.
Springfield recorded a pre-tax profit of £3.7million, up 6% year-on-year from £3.5million. The housebuilder had also managed to significantly reduce its net bank debt during the period, which now stands at £39.6million, down from £62.9million.
Springfield saw its completions fall during the half year, down to 316 from 261 the previous year, but was buoyed by a recent agreement with Scottish Hydro Electric Transmission (SSEN Transmission) to deliver close to 300 homes in the North of Scotland as part of SSEN Transmission’s programme to upgrade the Scottish electricity grid.
Springfield says that its land bank remains strong, with 7,305 owned and contracted plots, 63% of which have planning permission, and 6,293 plots. The housebuilder says that this includes a large proportion in the North of Scotland in close proximity to key work areas.
Innes Smith, chief executive officer of Springfield Properties, said: “We are pleased to have performed in line with our expectations for the first half, with an increase in profit and a significant reduction in bank debt compared with the same time last year. We also achieved an important strategic milestone with the signing, post period, of our first agreement to provide housing to support the delivery of crucial infrastructure upgrades across the North of Scotland. We are continuing to discuss further projects with infrastructure providers, and we remain very excited about the substantial opportunities in the region.”
“Looking to the full year, we continue to expect to deliver underlying growth when excluding the exceptional contribution of land sales to FY 2025. We are hopeful that an increase in consumer confidence following the publication of the UK Budget, along with interest rate cuts, will provide a boost to homebuying. We are continuing to perform well in affordable housing, with almost all of our FY 2026 forecast revenue already delivered or contracted. Accordingly, we remain on track to deliver results for the full year in line with market expectations and look forward to reporting on our progress.”
