Housebuilder Springfield Properties PLC (LON:SPR) posted strong first half numbers as the Scottish housing market remained buoyant.
The builder sold a third more homes in the six months to November at 379, which helped revenues rise 38% to £75.7mln and underlying profits almost double to £6.1mln.
READ: Springfield Properties beefs up presence around Edinburgh with Walker acquisition
Affordable houses took a bigger share of the mix, while there was a first meaningful contribution from Dawn Homes which was acquired at the end of 2017 and boosted its presence in Glasgow’s commuter belt.
Since the half-year, Springfield has also boosted its activity around Edinburgh with the acquisition of Livingston-based Walker.
“Looking forward, we have entered the second half of the year with a strong order book of contracted revenues and a greater geographic reach across Scotland,” said Sandy Adam, executive chairman, who added the 'sustained market drivers in Scotland' are showing no sign of abating.
The interim dividend rises by 20% to 1.2p.