As such, the Scottish housebuilder anticipates reporting pre-tax profits in line with current market expectations for the year.

A “significant growth” in land sales have seen Springfield’s revenues increase from £266m in 2024, to an expected £280m for 2025.

This year the group has been selling undeveloped land plots, primarily across central Scotland, to Barratt Redrow.

These equate to 2,480 plots across six sites, which have enabled Springfield to cut its debt and build to becoming net cash positive by the end of 2027.

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The group’s ability to remove bank debt has seen its debt reduce from £39.9m in 2024 to £21m this year.

Going forward, the group continues to focus on the North of Scotland where new energy infrastructure and housing are required.

“I am pleased that we have continued to accelerate the removal of our bank debt, keeping us on track to remove bank debt by the end of FY 2027, and achieved an increase in profit and revenue for the year,” said Innes Smith, CEO at Springfield Properties.

“This reflects our profitable land sales to Barratt and a substantial improvement in our affordable housing gross margin, which has returned to double digits.”