Need a reality-check on the daily hype surrounding the Capital’s housing market? Then look no further than Telford Homes, a specialist developer of ‘affordable’ studio, 1-3 bed apartments and ‘Build-to-Rent’ (BTR) schemes in inner London. Today the firm released another positive trading update, saying that results for the y/e March 2018, would not only be at “record” levels, but also adjusted PBT would come in >30% above LY (£34.1m) and “slightly ahead of expectations”. Accordingly we have nudged up our FY18 PBT forecast from £44.0m to £44.6m on LFL revenues 8% higher to £315m (vs £292m LY).
18 Apr 2018
Record results with PBT >30% above LY
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Record results with PBT >30% above LY
Telford Homes (TEF:LON) | 0 0 0.3% | Mkt Cap: 295.3m
- Published:
18 Apr 2018 -
Author:
Paul Hill -
Pages:
10
Need a reality-check on the daily hype surrounding the Capital’s housing market? Then look no further than Telford Homes, a specialist developer of ‘affordable’ studio, 1-3 bed apartments and ‘Build-to-Rent’ (BTR) schemes in inner London. Today the firm released another positive trading update, saying that results for the y/e March 2018, would not only be at “record” levels, but also adjusted PBT would come in >30% above LY (£34.1m) and “slightly ahead of expectations”. Accordingly we have nudged up our FY18 PBT forecast from £44.0m to £44.6m on LFL revenues 8% higher to £315m (vs £292m LY).