SPR

Springfield Properties PLC

Consumer Products and Services First-pass screen £115m

340/1000 Overall fit

AI beneficiary 35% 25

Operating leverage 25% 35

Valuation 25% 30

Downside protection 15% 62

First-pass take

Traditional UK housebuilder with zero AI exposure. Core private housing business contracting (completions down 15%, revenue down 16%); reported profit growth driven by non-recurring land sales (£60.5m) and legacy contract completions, masking deteriorating unit economics. Cyclical sector facing subdued market conditions.

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