LEADING Scottish housebuilder Springfield Properties has reported its highest-ever revenue with a turnover of £111 million.
It marks an increase of 22 per cent on the 2015/16 figure of £90.8m.
The firm focuses on offering high-quality private and affordable housing, and in the year ending May 31, 2017, saw growth in all parts of its business.
Completions also increased with 620 new homes and the group and a significant increase to its land bank, which now stands at 9195 plots.
Sandy Adam, executive chairman of Springfield Properties, said: “I am pleased to report another year of strong growth, reaching the milestone of £100m revenue for the first time in our history.
“This has largely been due to the tremendous work carried out by each and every one of our 500 staff who have built high-quality and desirable affordable and private homes.
“We are also proud to have reached the key milestone of building our 4000th home during the year. “Looking ahead, we continue to drive controlled expansion, particularly with the affordable side of our business. Our target is to double turnover in affordable housing over the next two years.
“Significant progress was made in developing the five Springfield Villages and these will be the cornerstone of our future growth as we seek to deliver increasing numbers of homes.”
Springfield built 183 affordable homes over the year, up 91 per cent on 2015/16. It brings the number of affordable homes it has built to more than 1500, giving it an approximately 4 per cent share of the affordable housing market in Scotland.
The Scottish Government has allocated £3.2 billion to build 50,000 affordable homes over the course of this parliament, an increase from the 30,000 target of the last five years.
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