LONDON (ShareCast) - (Sharecast News) - Scottish housebuilder Springfield Properties said on Tuesday that it was able to deliver "significant revenue growth" in the six months ended 30 November.
Springfield said build and sales activity had "rebounded strongly" following the resumption of operations from late June, with first-half revenues now expected to be "significantly higher" year-on-year, with substantial visibility.

The AIM-listed group also reported a "material reduction" in net debt, down £35.2m over the six month period to approximately £33.6m.

Looking ahead, Springfield said it was continuing to deliver against a strong order book and remained on track to report "significant growth" for the 2020/21 trading year.

Chief executive Innes Smith said: "This has been a strong six months for Springfield. We were able to safely and efficiently resume construction to complete the homes that had been scheduled for handover at the end of the previous financial year.

"With a strong order book for our private and affordable housing, with substantial visibility, we look forward to delivering significant growth for the full year in line with market expectations."

As of 1310 GMT, Springfield shares were up 2.16% at 118.50p.

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