Springfield Properties plc announced that it has signed a new contract, worth £15.3 million, with Highland Housing Alliance ("HHA") for the delivery of affordable housing. The contract includes an initial bulk sale of housing, followed by a design and build aspect. The Group will receive £4.1 million for a bulk sale of housing, which is scheduled to complete during the current financial year.

The design and build phase, which is worth £11.2 million, is due to commence in the coming weeks, with the majority of the revenue to be recognised in the Group's next financial year.