Springfield eyes ‘Help to Buy’ rise

HOUSE builder Springfield Properties expects its turnover to jump by 50 per cent following the launch in the autumn of the Scottish Government’s version of the “Help to Buy” scheme.

The Elgin-based company – which took over Redrow’s Scottish operations in 2011 – is preparing to open a further six sites, having started work at four locations in the past year.

Chairman Sandy Adam said: “Turnover is set to increase by 50 per cent this year. We are investing profits in buying land; five sites purchased in the year are being progressed through the planning system along with another 12 sites.”

His comments came as turnover fell to £46.6 million in the year to 31 May from £53.5m in the previous 12 months, when Springfield was still selling some of Redrow’s pre-built houses. Profits dipped to £3.5m from £3.9m.