Telford Homes Plc; the London focused residential property developer, today provides an update on trading ahead of its interim results for the six months ended 30 September 2018 (‘H1 2019’), which will be released on Wednesday, 28 November 2018.
The update mentions that despite a more uncertain backdrop Telford have continued to achieve sales at a consistent rate in the last few months and particularly where the homes are priced under £600,000 on developments that are either complete or nearly complete.
In their introduction they mention that in recent weeks there has been an increasing amount of negative commentary around the outcome of Brexit and the impact it may have on the UK economy and housing market. This adds to a more general downturn in the market for expensive prime homes in London which has been evident for some time.
Jon Di-Stefano, Chief Executive of Telford Homes commented: “Our key objective is to fulfil the ongoing demand for the homes that London needs. Notwithstanding the uncertainty surrounding the outcome of Brexit, the Group continues to perform well and is focused on increasing the scale of the business driven by the need for homes at affordable price points, in particular in the rental sector. We remain confident that our approach to forward sales with increased visibility over profit recognition enhanced by our success in build to rent will enable us to deliver strong long term returns to our shareholders.”
Read the trading update 10th October 2018 in full click here.
Author: Allen Walkey
Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.