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23 February 2021 Financial Summary Springfield Properties ( AIM : SPR ) , a leading housebuilder in Scotland delivering private and affordable housing , announces its interim results for the six months ended 30 November 2020 . Revenue Gross margin Operating profit * Profit before tax * Basic EPS * ( p ) Interim dividend per share ( p ) ● ● Springfield Properties plc ( " Springfield " , the " Company " or the " Group " ) ● Interim Results Significant six - month growth – well placed for the full year Substantial reduction in net debt through delivery against strong order book ● ● H1 2020/21 £ m 94.4 19.6 % ● 9.8 9.0 7.55p 1.3p Springfield H1 2019/20 £ m 79.8 19.9 % * Adjusted to exclude exceptional expenses of £ 0.5m primarily relating to consolidation of Livingston operations into the existing Larbert office ( H1 2019/20 : £ nil ) 6.9 6.3 5.28p Operational Summary Build and sales activity rebounded strongly following resumption of operations from late June - reflecting a longer shutdown of construction sites in Scotland due to COVID - 19 restrictions O Resumption of build work enabled completion of homes scheduled for handover in April and May 2020 ; sites have remained open with no significant impact from subsequent lockdowns Change .co.uk + 18.3 % -30bps + 42.0 % + 42.9 % + 43.0 % O Robust sales activity strengthened the order book , providing substantial visibility over full year forecasts Realisation of work in progress enabled substantial reduction in net debt to £ 33.2m at 30 November 2020 from £ 68.8m at 31 May 2020 Total completions increased to 443 homes ( H1 2019/20 : 438 ) Sustained progress in advancing land bank with planning approval received for more than 450 homes during the period and the proportion of land bank with planning permission increasing to 53.8 % ( 31 May 2020 : 49.7 % ) Total land bank of 15,029 plots ( 31 May 2020 : 15,882 ) with Gross Development Value ( “ GDV " ) of £ 3.1bn ( 31 May 2020 : £ 3.3bn ) Strengthened operations with implementation of efficiency and rationalisation measures to reduce costs by approximately £ 1m on an annualised basis Private Housing Delivery Revenue of £ 74.3m ( H1 2019/20 : £ 57.1m ) with 311 completions ( H1 2019/20 : 258 ) Significant growth primarily reflecting completion of homes originally scheduled to be delivered at the end of 2019/20 , but postponed to this year due to the temporary cessation of build activity during the first COVID - 19 lockdown Post period , agreed with Sigma Capital Group plc to commence progressing first homes for the Private Rental Sector ( " PRS " ) at Bertha Park Village Strong sales activity following reopening of sales offices at the end of June ; reflecting pent - up demand and increasing desirability of the type of larger housing with plenty of green space that Springfield offers