Springfield Properties to restart dividend payouts

Hello and welcome to our daily digest of business, financial and economic news from around Scotland.

1. Scotland’s only stock market listed housebuilder is to restart dividend payments after trimming debt and making profitable land sales.

Springfield Properties recorded a near 20 per cent fall in revenue to £266.5 million in the 12 months to May this year.

The Aim-listed company completed on 878 homes in the period, down from 1,301 in the prior financial year, as higher interest rates and weaker demand affected sales.

The pre-tax profit fell almost 37 per cent to £9.7 million although Springfield ended the year with a net debt of £39.9 million against a target of £55 million.

A dividend of 1p per share is being paid. Innes