Telford Homes plc Reports Unaudited Group Earnings Results for the Six Months Ended September 30, 2018; Provides Earnings Guidance for the Year Ending March 31, 2019
In trading update on 10 October 2018, the company reiterated original target of exceeding GBP 50 million of total pre-tax profit for the year to 31 March 2019. However, the uncertainty arising from Brexit and indeed the wider political situation remains a concern across the sector making it difficult to accurately predict sales rates over the coming months. Individual sales already secured, combined with existing construction contracts for build to rent and subsidized affordable housing and new construction contracts that are expected to be exchanged before 31 March 2019, would amount to total profit before tax in excess of GBP 40 million. This provides with a strong base to work towards GBP 50 million target by securing further individual sales that will complete in the remainder of financial year.