www.trafalgar-new-homes.co.uk

Just had a small punt on these earlier - look promising, but dyor etc.



RNS Number : 4070J
Trafalgar New Homes PLC
16 July 2013
Trafalgar New Homes PLC
("Trafalgar New Homes", the "Company" or "Group")
Admission to Trading on AIM
Trafalgar New Homes, the residential property developer operating in southeast England, is pleased to announce today its admission to trading on AIM. Dealings of the Company's ordinary shares of 1p each ("Ordinary Shares") commenced at 08:00am this morning ("Admission"), under the ticker TRAF.
Key Points:
-- Trafalgar New Homes is a residential property developer focused on Kent, Surrey, Sussex and the M25 ring south of London.
-- The Group specialises in small developments and outsources the design, planning and construction to third party contractors on a fixed price basis.
-- The Board believes the Group occupies a niche position in the current market, between local builders and developers and the larger house building companies.
-- The Company has raised GBP280,000, before expenses, through the issue of 14,000,000 new Ordinary Shares at 2p per Ordinary Share in a placing.
-- On Admission the Company will have 228,375,190 Ordinary Shares in issue giving it an approximate market capitalisation of GBP4.6 million.
-- The Directors expect the audited results for the year to 31 March 2013 to be announced in August.
-- Allenby Capital Limited is acting as the Company's nominated adviser and broker. Christopher Johnson, CEO of the Company, commented: "It has always been our intention to move to AIM at an appropriate time and the Board believes that the Group has made sufficient progress such that the move to AIM is now the logical next step. We have a continuing commitment to provide quality homes at realistic prices in the most sought after locations. We are excited with the prospects for the Company and look forward to maximising returns for our shareholders."
For further information and a copy of the AIM admission document visit www.trafalgar-new-homes.co.uk or contact:

Bought yesterday sub 3p.

Ticker ..?

I think the heat got to me yesterday when I started this thread mitzy and I missed out the ticker! Will get it sorted.:-)

Poor management imo wouldnt touch this with a barge pole. Suprised your in mitzy thought it would be too risky.

It's a pity your personal antipathy towards me sometimes clouds your judgement on shares gf. Perhaps mitzy thought it was worth a punt - just the same as I did after doing some research.:-)

Just a punt for me gf.

Ahhhh right. Not very keen myself on the CEO and chairman.

Whys that gf..?

Top of the LSE % gainers today at the moment - nice. :-)

mitzy are you waiting for the "crash and burn" or have you taken your profit already?

LOL

halifax - would you like to expand on that one liner, or is that all you have to say on the subject?

gf seems to be unable to respond to your question mitzy (post 8) - it's not like him to be lost for words. :-)

Well done d4 and m,Trafalgar New Homes PLC (TRAF:LSE) set a new high during today's trading session when it reached 5.77. Since the IPO on Jul 16, 2013, the share price is up 133.33%.

Still holding up70%.

Biggest riser this am.

Why?

Growth sector at the moment.

robstuff - this article from The Express two months ago:


Trafalgar winning a battle for growth

TRAFALGAR New Homes is laying the foundation for growth with a move from ISDX to Aim.



By: David Shand


The South-east-focused company is raising up to £1million and will have a market value of about £6million when it steps up next month.

It is headed by Chris Johnson, who has been on the board of various quoted housebuilders and was at the helm of Aim-listed builder Honeygrove, when it was sold for £9.4million to Oakdene Homes in 2004.


Trafalgar’s move, which will attract investors and help it raise extra capital when required, comes at a time of improving conditions in the housing market and it has made “good progress” over the past year in its Kent, East Sussex and Surrey heartland.

Annual pre-tax profit is forecast to be at least £575,000. Johnson said: “I have been on Aim before with Honeygrove. It raises the profile and generates interest and value, as well as enabling one to look at strategic acquisitions.

“I am very bullish. We are fortunate to be in the South-east. It hasn’t been immune to the downturn and hasn’t been able to maintain its position the way central London has but it will lead the move out of recession. There is only one way to go in housebuilding. There will always be blips but there is a lack of supply and increasing demand.

“Support by the Government through scheme incentives and funding for lending make a difference. The feelgood factor is back.”

Trafalgar is building 15 houses this year and 20-plus next year.

They sell for around £500,000.

Bought in at 6p first thing this morning.. thought I'd paid too much but happy now that the sp has gone up nicely!

Nice profit already then skyhigh - selling price at the moment is 8.05p.

Yes, not bad.. very pleased.. this should be very good long term wise...
I could only get 25K shares (available spare dosh) so small outlay,,, wasn't easy to get them.. couldn't buy them online first thing so had to phone broker..still, I'm in..onwards and upwards...

I just hope that they are not that difficult to sell when the time comes. I notice that the spread is often between 15 - 20% which is something that puts me off atm.

MM's keep messing around with the spread HARRY. It didn't take many buys to send the share price North and it will not take too many sells to send it down again, as we are seeing this morning. New admissions to AIM some times take a while to settle into a trading range, so TRAF could be quite volatile in the meantime. I'm not selling as I think the future prospects for this company look promising - as does the housebuilding sector generally. imo

The person who sold at 4.75p this morning either doesn't have a good broker, or he/she was desperate for money and pressed the panic sell button! An impressive trading update from Inland this morning - in the same sector and the same part of the country as TRAF.

I'm holding from sub 3p and not in a hurry to sell remember you cant go far wrong with bricks and cement.

mitzy especially when they plan to build 15-20 houses per year.

Not easy to buy at the moment, except in very small amounts and at a premium to the asking price of 7.5p.

That person who sold @4.75p this morning must be a bit sad after the event.

Absolute madness to sell at that price this morning mitzy, the seller got completely mugged by the mm's.

The Government incentive to help first time buyers, which was detailed further by George Osborne today, specify new homes up to the value of £600,000 - good news for TRAF as their new homes have an asking price of £500,000.

Stalemate here at the moment - MM's can't get any sellers @ 7.2p and there is no stock around for buyers @ 7.9p. :-)

Final results due in August, no fixed date yet, so they could be as early as next week.

Buyers returning after yesterdays sell - off.

Just for info, mitzy and any other holders - this is still being traded on isdx.com, so the prices you see on Moneyam are not the only trades going through each day.

Thanks for that d.

Analyst information published on the TRAF website makes positive reading, this is just a small extract:

"Firm revenue visibility for 2013/14 and growing earnings profile – In its RNS announcement of 23 May 2013 TRAF forecast that profits for the financial year to 31 March 2013 would be not less than £575,000 and we are projecting this to rise to £1.4m for FY 2014 and £1.6m for FY 2015. The properties scheduled to contribute to the 2014 period are nearing completion and will shortly be entering the marketing phase, thus significantly reinforcing our earnings conviction for the current year."

Biggish fall today for no apparent reason.

One buy and a few sells on isdx today mitzy. The good news is that the prize muppet on the ad--n bulletin board has started posting on the TRAF thread - he was shorting TCG all the time it was going North, so I'm hopefull he will have the same effect on TRAF ! I'm still holding and waiting for the results which are due this month.

Good news from the housing market and it should reflect in an upbeat statement from the chairman of TRAF when the results are announced. Newly built homes in demand.


Taylor Wimpey yesterday hailed a ‘meaningful improvement’ in the housing market as demand for new homes hit a record high.

The builder, which has benefited from Government schemes to support homebuyers such as Funding for Lending and Help to Buy, said it has orders for 7,378 homes worth £1.3billion on its books.

It came as it reported an 11.1 per cent rise in sales for the first half of the year to £1billion and a 42.1 per cent jump in profits to £109m as it sold more homes at higher prices.

Rightmove, Britain’s most visited property website, provided further evidence that the housing market is on the mend with a 16 per cent rise in half-year revenues to £67.2m and a 15 per cent increase in profits to £44.6m.

Taylor Wimpey chief executive Pete Redfern (pictured) said: ‘During the first half of 2013, there has been a meaningful improvement in the housing market, with more positive consumer sentiment, a more available and affordable mortgage market, and the presence of government schemes all adding to the favourable outlook.’

He said around 1,300 newly built homes have been reserved under the Help to Buy initiative which offers government loans to house-hunters with small deposits.

Buyers gradually coming back in after the sell off and this is the narrowest the spread has been since it started trading on AIM - currently 5p bid, 5.50p offer.

Full offer price now being paid on ISDX - warming up.

House prices rising in more areas than at any stage since 2006 peak with government schemes boosting prices across the UK

Read more: http://www.thisismoney.co.uk/money/mortgageshome/article-2391172/House-prices-rising-areas-stage-2006-peak-government-schemes-boosting-prices-UK.html#ixzz2bqxkNO79

It has to be a worry that the government is creating another bubble in a housing market that didn't fully deflate.
2517

I agree 2517 and it seems that young people these days want to buy a brand new home rather than buy something which needs refurbished.

doodlebug4----My 1st house was a brand new home, the difference back then was that they weren't fully kitted out like they tend to be now. All the appliances and furnishings are effectively taken on a 25 year mortgage.
2517

Results out .

22 August 2013
TRAFALGAR NEW HOMES PLC
("Trafalgar" or the "Company")
FINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2013
NOTICE OF ANNUAL GENERAL MEETING
Trafalgar (AIM: TRAF), the residential property developer operating in southeast England, announces its audited results for the year ended 31 March 2013, a period which has seen a 196% increase in profit before tax.
Highlights
-- Strategic move from ISDX to AIM in July 2013 -- Profit before tax of GBP617,976, a 196% increase from last year (16 months to 31 March 2012: GBP208,619)
-- Revenue of GBP2,205,786 (16 months to 31 March 2012: GBP2,346,404) -- Losses carried forward from previous years have reduced the tax charge for this financial year
-- Work completed at Edenbridge site and sales contributed substantially to this year's profit -- Oakhurst Park Gardens development completed and marketing for sale to commence this September
-- Acquired sites in Ticehurst, East Sussex and Tunbridge Wells for development
-- Option entered into in respect of land in Staplehurst, Kent. Planning permission pending James Dubois, Chairman, said: "As our first results announcement on AIM, I am delighted to report such positive news. We have worked hard to put Trafalgar New Homes in a strong position as we aim to take advantage of an improvement in the sector. We are optimistic about the future prospects of the residential property market as activity has started to increase which we believe will benefit the Company over this year and next."
The Annual Report will be posted to shareholders this week, together with a notice of Annual General Meeting to be held at 11.30am on 18 September 2013 at the offices of Allenby Capital Limited, 3 St Helen's Place, London EC3A 6AB. The Annual Report and notice of Annual General Meeting will be available tomorrow on the Company's website, www.trafalgar-new-homes.co.uk.

http://www.combebankhomes.co.uk/wpimages/wp8add86dd_06.png

One house sold last week for 615k.

Open day today at their showhome at Oakhurst Park Gardens.

Could be a good month for TRAF.

Do you mean this month or October mitzy? :-)

Yes I mean for October.

Could be a good few months with the housing market buoyant.

Another plot sold at Oakhurst Park Gardens stc for £575,000.

Another open day on 19th October -10 plots left for sale at an average of approximately £585,000 each.

Nothing to report here.

Just ticking up nicely the last two days and the chart is looking better now.

There is a lot to like about this company I think, apart from the fact that it's based in this country! We don't get an endless stream of meaningless RNS statements and, to my knowledge, we don't have a CEO/Chairman posting a load of nonsense on Twitter or promoting his own ego. The potential here is just beginning to reach a wider audience, which has its positives, but the negative is that it may start attracting day traders. Still cheap at the price.imo

www.trafalgar-new-homes.co.uk

tiny builder market cap circa £12m, 80% of shares owned by a mr. Johnson, take care!

Mmm. I dabbled a couple of weeks ago in these, making £100 at the moment - thinks to myself could be another Galliford which I sold at 50p ish and within days they escalated and look where they are now. Life in every aspect is a gamble and nobody knows better than I.

Not much happening here... guess it will be news driven.

Barclays has become the latest bank to announce it is signing up to the government's Help to Buy scheme.

This means about two-thirds of lenders in the UK's mortgage market have said they will sign up to the project.

The government's initiative is designed to allow those who can afford only small deposits to buy a home.

The move leaves Nationwide Building Society as the UK's only major mortgage lender yet to decide whether to join.

Barclays has not yet published details of any rates or timing of mortgage products that fall under the Help to Buy umbrella.

"We are pleased to confirm that Barclays will participate in the Help to Buy mortgage guarantee scheme," a spokesman for the bank said.

Under the latest phase of the scheme, buyers across the UK only need to provide a small deposit, with the government offering a guarantee of 15% of the loan to the lender - for a fee - to encourage the bank or building society to offer the loan.

That fee charged to the lender is up to 0.9% of the original loan level. This is a one-off fee dealt with entirely by the lender, which guarantees 15% of the mortgage for seven years.

Borrowers who apply will face checks to make sure that they can afford the mortgage payments.

The scheme will be available for first-time buyers and home movers borrowing to buy new and old homes valued at no more than £600,000. It is expected to continue for three years.

Products are already on the market from RBS/NatWest and the Halifax, with Santander, HSBC, Virgin Money, Lloyds, TSB and Aldermore all saying that they will start offering products by the start of January.

The government has said that the scheme will correct a problem in the market that locks out a number of tenants paying high rents and unable to save enough for a deposit, even though they could afford mortgage repayments.

But Labour said the focus should be on house building, to correct a lack of supply of affordable homes.

The latest news of Barclays' participation comes as mortgage lenders reported that the number of first-time buyers was already growing quickly from a low base.

The Council of Mortgage Lenders said that the number of loans approved for first-time buyers rose by 33% in August compared with the same month a year earlier.

And your point is?

If you don't see the connnection then you don't have a clue about the housebuilding sector. Just try joining the dots together.:-)

A 33% increase in the number of first time buyers as the market hots up..Daily Mail.

Buying properties they can't afford.

How do you know they can't afford them blackdown? What percentage of first time buyers would you say buy properties they can't afford? Surely it's a duty of mortgage lenders to make sure they don't tie clients into mortgage deals they cannot possibly afford.

Agree with you 100% .


target price here is 12p.

It could end up another GRFD - more wishfull thinking on my behalf.

This ones against the trend today with house builders doing well 3 monkies, 7% down any specific reasons as I was getting interested in going long.

LOL, that's pathetic gf, even by your standards. You just stick to buying CR's tips and you will do okay.:-)

Take a look at MAR.

Cheers will do Mitzy.

Goldman Sachs upgrades housebuilders.

Goldman said the housebuilding sector had been boosted by the Help to Buy scheme, which was launched to inject life into Britain’s ailing house market.

There were concerns the government’s mortgage lending scheme would create a housing bubble, dragging housebuilding shares lower. But Goldman shrugged off these claims.

The US broker now forecasts a quicker UK housing market recovery, and expects transaction growth of 15% per annum between 2014 and 2016 (from 10%/10% and 6% respectively, previously) and house price inflation of 6% per year against 4% previously forecast.

Sp slipping again, steady selling today?

Yes, we've been there before with this halifax - it seems to go out of 'fashion' for a while and then perks up again. I'm happy to hold this for some time. There is an open day at Oakhurst Park Gardens on Saturday, so that should stimulate the interest and we just need another "Sold STC" on the website to get the buyers back in.

Cheers Mitzy had a look at MAR looks to be a better opportunity over thier.

Many thanks GF.

Mitzy, if you hold MAR why don't you start a thread as there doesn't appear to be one on Moneyam. Just a suggestion.

I'll stick with this thread doodle..thanks.

I've done some research into MAR, mitzy and have put it on my watch list. It looks like another promising company in the same sector as TRAF, but in a different part of the country.

Some posters on another bulletin board are going to the open day at Oakhurst Park Gardens tomorrow, so it will be interesting to get their feedback over the next few days.

Up 8.33% at the moment. Gearing up for a trip North next week?

Up 11% now.

On a flier now - nice mitzy!

Looking that way doodle, apparently houses are rising 2% a month.

all we have received complaints with regard to this thread veering from discussion to abuse. Please stick to the topic at hand.

Ian

err ?

That's 'cos mitzy refused to open a MAR thread! When a girl's made up her mind to not do something....... ;o)

Just to clarify, it wasn't me who complained and I hadn't noticed it veering from discussion to abuse anyway. Perhaps Ian has had so many complaints recently that he's just lost track of which threads to rap knuckles on.:-)

Hobson's choice!

Okay, I've just been checking back the posts - perhaps goldfinger has taken exception to my post 71 and had a whinge. :-)

doodlebug, exception was taken to the inference of duplicate login ID's I have edited your post accordingly.

Now if we could all just stick to topic instead of personal slights please

Ian

That's fine Ian, I'm happy to stick to the rules as long as they apply to everyone who posts on this bulletin board. I'm happy to stick to thread topics. Perhaps in the light of your comments on this thread you would post the same comments on the BES thread which was trashed the other day by off-topic comments.

All 10 apartments at Meade Court, Edenbridge are now sold and the 1 remaining cottage is now sold STC. 2 of the properties at Oakhurst Park Gardens are sold STC.

All good news.

I'm staying put here.

Government deposit schemes for first time buyers has resulted in a threefold increase in searches on www.rightmove.co.uk

Great news from MAR today.

Good contract win for MAR, but TRAF is still cheap at less than half the share price !:-)

INTERVIEW: Trafalgar New Homes CEO Says Staying South Will Reap Rewards


LONDON (Alliance News) – Trafalgar New Homes will continue building houses for affluent clients in Kent, Surrey and Sussex as it gears up to start paying its new investors a dividend from next year, with no plans to branch out into other regions, its chief executive says.

That might seem unambitious, but the company is still rebounding from a time in administration in 2010 and 2011, recently attracting new investors by listing on AIM. That’s made new Chief Executive Chris Johnson cautious and means the company will stick to what it knows best: building homes, apartments and town houses in affluent areas around towns like Royal Tunbridge Wells.

“The key to housebuilding is to have enough cash, always have enough cash,” he told Alliance News in an interview.

“I couldn’t tell you what value you could get for land in Newcastle-upon-Tyne, Coventry or Birmingham. Yes, I could go and find out but my motto is stick to what you know. In our case it is Kent and we know Kent values and prices,” Johnson says.

Johnson does want to grow the company and is prepared to make acquisitions to build scale in its geographical area, but no more than that for now.

The new CEO has a history of floating property firms, most recently overseeing the Propan Homes listing on AIM in 2001 – a company he founded in the 1990s. Propan was later sold for GBP9.4 million in 2004.

He then set up another housebuilding company which was sold for GBP3 million in December 2006, and subsequently established Combe Bank Homes. Johnson was approached to takeover the “moribund” Trafalgar in 2011 and Combe became its trading subsidiary in a reverse takeover.

The company has since strengthened considerably, building residential and recreational homes in Kent, Surrey, Sussex, close to the M25 circling London. Last month it said pretax profit more than doubled to GBP617,976 for the full-year to March 2013, from GBP292,960 a year earlier, albeit with a gain on a disposal.

The company now hopes to start paying a dividend in 2014.

In July, the Trafalgar made the “logical step” of moving from ISDX to AIM, which it hopes will attract new investors, improve liquidity in its shares and allow it to raise additional capital when required, making it easier to do acquisitions.

“Why go public when you can stay private? At the end of the day nobody will take your private paper if you wanted to acquire somebody, they will take your public paper,” Johnson told Alliance News.

“It is very nice to see your shares quoted at the price and the value put on your holding which [is] considerably greater than what you would put on yourself if you were to stay in the private sector,” he said.

A housebuilder’s valuation as a private company is based on its trade sales, but listed companies get a higher valuation, he says, and that’s going to be helpful as the company continues to grow.

The UK housing market was hit particularly hard by the financial crisis, but there have been signs of improvement this year with house prices increasing and more properties coming onto the market.

Some observers have suggested that the main driving force is government schemes such as Help-To-Buy, which aims to get first-time buyers back into the market by aiding financing. The programme guarantees part of a borrower’s mortgage advance, allowing them to get a loan with a lower deposit than would be normally required. The scheme will be extended in the next two weeks to second homes up to a value of GBP600,000.

Large housebuilders including Crest Nicholson, Persimmon and Taylor Wimpey have cited the scheme for recent increases in profit, although detractors say the programme is potentially creating a new property price bubble.

That’s not true, says the experienced Johnson. “We had a boom in the 80s and 90s. The last cycle went to 1992, the dark days, all the way through to the late 90s and then we had a run all the way to 2006. The cycle used to be five years, but now it is ten. I don’t think its back to being a five year cycle, it may go back to being a 20 year cycle, but I do believe it will be 10-to-15 year cycle.”

Johnson says Help-To-Buy has its merits but is not likely to help Trafalgar New Homes because it lacks the resources to “wade through the 127 pages of documentation”. Also, Trafalgar’s clients are generally more affluent than those who would be tempted to use the scheme, typically looking to downsize so that they can invest elsewhere.

“These are people who would not even think of Help-To-Buy,” he said.

An advantage for Trafalgar New Homes is that it operates in an area where the big housebuilders are almost absent as they prefer to concentrate on big towns and cities like London. Dog fights for land are few and far between, as major housebuilders dismiss the smaller plots snapped up by Trafalgar, fearing how much it would cost them in administration.

Over the past 12 months Trafalgar has acquired sites in Ticehurst, East Sussex and Tunbridge Wells, Kent for the development of two units and six units, respectively, and development work will be undertaken on these two sites during this year. In addition, it is anticipating that it will develop a site it already owned in Sheerness, Kent. The three sites could contribute around GBP7 million for the year ended 31 March 2015, he said.

Johnson is happy with the size of the company’s land bank, which will last it up to 2015. However, the firm has sought to buy land in Staplehurst, Kent, for a “beneficial purchase price”, he said. The land has been earmarked for a substantial residential development and it is anticipated planning permission will be granted on the five acres once the planning application has been submitted.

“I know we need stuff for 2016, over and above Staplehurst, but bear in mind we are building 13 units etc. I wouldn’t want to be in any other position,” Johnson said.

The big attraction for investors in Trafalgar New Homes is its relative valuation compared with the bigger companies listed on the main market, which have seen share prices rise sharply this year as the housing market picked up.

“Small housebuilders traditionally sell on a rating lower than the medium and big sized boys and understandably. But there is a gap to bridge which could be very profitable for investors,” Johnson said.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews

Planning application has been lodged to build 16 houses & 6 flats on land at George Street, Staplehurst, Kent with an option for further development on adjoining land.

Buying volumes suddenly picking up again this afternoon.

Whoever sold out 37,850 @ 4.783p late this afternoon was totally mugged.

Looks as if there are only 5 out of the 12 properties still for sale at Oakhurst Park Gardens. According to rightmove.com & Savills only plots 12, 5, 1, 2 & 9 are now on the market.

Volume picking up today.

Trading update due out soon mitzy and it should make good reading.

Finished up 12.82% at the close - nice, but a lot more to come in the next few weeks with the trading update due any time.

Looks ready to test the 6p level again after having a go this morning and then a pull-back.

Tipped as a buy in Shares Magazine today.

Thanks for that.

Cant understand people selling out @4. 22p.

I think it's called impatience mitzy! With an update due from the company any day now, which should make positive reading, I think they must be bonkers to sell. What was it that chap Buffett said about the transfer of wealth from the impatient to the patient?:-)

Still falling when will it end.

cynic might say "rocket and stick"!

MAR getting hit as well today.

Down another 10% this is not good.

Not good indeed.

Staplehurst development application turned down by Maidstone Borough Council evidently and that is the reason for the drop in the share price this morning.

Thanks for that doodlebug.

re - why the fall? down another 10%

If one buys overvalued stock, expect drop in share price eventualy to reflect the propper valuation
When at 5p the PE was 20 at 7.50p was 30

reasons
came to market at 2p six month ago
EPS of 0.25p

That's not exactly a detailed analysis of the current state of play ontheturn!! What do you think the proper valuation is?

Half Yearly Report
RNS
RNS Number : 8638U
Trafalgar New Homes PLC
06 December 2013



6 December 2013





TRAFALGAR NEW HOMES PLC

("Trafalgar" or the "Company")



INTERIM RESULTS

30.9% increase in turnover and move into profit



Trafalgar (AIM: TRAF), the AIM quoted property developer operating in southeast England, announces profitable half year results for the six months ended 30 September 2013.



HIGHLIGHTS:



· Turnover for the period rose 30.9% to £864,000 (H1 2012: £660,000) generating a profit before tax of £101,000 (H1 2012: loss £102,000) and an EPS of 0.05p (H1 2012: loss of 0.05p).



· Strong financial performance in the six months has been a resultant effect of the completion of the sale of the remaining apartments at the Company's Edenbridge site.



· Completion of 12-strong housing construction work at Oakhurst Park Gardens, with properties valued at £7m in aggregate, now on the market for sale. Board confident that a large proportion will sell in the short term.



· Construction of four sites in Kent expected to commence in early 2014.



· Company registered for government 'Help to Buy' funding scheme.



· Successful listing on AIM in July raising £280,000, before expenses, through the issue of 14,000,000 new Ordinary Shares at 2p per Ordinary Share in a placing.



Commenting, Chris Johnson, CEO of Trafalgar, said: "Today's results are particularly encouraging given historically the Company out-performs in the second half of the year. The Board is encouraged by the returning strength of the housing market and looks forward to accelerated expansion and growth as a result, believing that AIM will help attract new investors and capital when required, to further the Company's growth strategy through land and corporate acquisitions."





Enquiries:



Trafalgar New Homes Plc

Christopher Johnson


+44 (0)1732 700 000

Allenby Capital Ltd - Nominated Adviser and Broker

Jeremy Porter/James Reeve


+44 (0)20 3328 5656

Yellow Jersey PR Limited

Dominic Barretto/Anna Legge
+44 (0)7768 537 739






Notes to Editors:



Trafalgar New Homes is the holding company of Combe Bank Homes, a successful residential property developer operating in the southeast of England. The founders of Combe Bank Homes have a long track record of developing new and refurbished homes, principally in Kent. Combe Bank Homes was incorporated in 2006 and was acquired by ISDX quoted Trafalgar New Homes in a reverse takeover on 11 November 2011.



The Company's focus is on the select acquisition of land for residential property development. The Company outsources all development activities, for example the obtaining of planning permission, design and construction, and uses fixed price build contracts. This enables the Company to tightly control its development and overhead costs.



The Company focuses on the regions of Kent, Surrey, Sussex and the M25 ring south of London and targets development sites of up to 20 homes, with sales prices typically ranging from £100,000 to £750,000 per unit, although larger projects are undertaken.



For further information visit www.trafalgar-new-homes.co.uk







CHIEF EXECUTIVE'S REPORT



I am pleased to present the Company's interim results for the six months ended 30 September 2013, a period that has seen continued progress throughout the Company and a successful flotation on AIM.



Turnover for the period rose 30.9% to £864,000 (H1 2012: £660,000) generating a profit before tax of £101,000 (H1 2012: loss £102,000) and an EPS of 0.05p (H1 2012: loss of 0.05p).



Strong financial performance in the six months has been a resultant effect of the completion of the sale of the remaining apartments at the Company's Edenbridge site.



At the Company's Oakhurst Park Gardens, Hildenborough site in Kent, I am pleased to report that construction has been completed and the houses are now on the market and for sale. There has been considerable interest and the Board is confident that a large proportion of the 12 homes will sell in the short term contributing to a strong second half performance. The gross development value of the properties is around £7 million in aggregate, which could show a substantial increase in turnover for the year compared to 2013 as we aim to sell all the properties before the year end. Four of the houses are under offer and interest is high with prospective purchasers seeking to take advantage of the 'Help to Buy' government funding scheme for which the Company is registered.



Going forward, prices are being obtained from contractors to build out Trafalgar's four sites at Tunbridge Wells (six apartments),Ticehurst (two houses),Sheerness(six houses) and Chatham(three houses). The Board anticipates construction of these properties to commence in early 2014 with a view for sales to positively impact the financial year ending 31March2015.



At the Company's Staplehurst site in Kent, which is under option, we have submitted planning application for a development of 22 homes on part of the land and this first application was unexpectedly refused. We believed we had met all the criteria for a positive decision and we will therefore appeal the refusal in accordance with the advice given to us by our planning consultants. Once planning is granted we will aim to complete the purchase of the land and commence development to contribute to the year ending 31 March 2015. The balance of the site will then be the subject of a further planning application with a view to generating profits for the 2016 financial year.



The Board is encouraged by the returning strength of the housing market in Trafalgar's niche area of operations. We continue to seek out opportunities to increase our land supply for future developments and have the continued support of our bankers and lending institutions to enable the funding of such purchases.



As announced in August, the Company moved from ISDX to AIM with a view to increase awareness and maximise returns for shareholders. The Board looks forward to accelerated expansion and growth as a result, believing that AIM will help attract new investors and capital when required, to further the Company's growth strategy through land and corporate acquisitions.



C C Johnson

Chief Executive

5 December 2013

Was someone on the know about results not to scratch?

Interims EPS 0.05p a lot to do on the second Half to reach last Year of 0.25p, as a matter of fact, has to be 4 times better than the interins just release.

Too speculative at this point, results should have been much better than that, by the noises of this thread.

I don't know how you manage to figure that out ontheturn and do you think the CEO & Chief Executive are telling porkies about the future prospects for the company?!

doodlebug4

future prospects have to come with figures and today's results are not to scratch.

do not ask me, ask the directors why the figures are not better.

I hope you do know how to calculate at least the PE?
maybe there is asset value on the stock, but they did not reported.

ontheturn - I'm not sure what you are talking about when you say the "results are not to scratch". Not up to scratch in your opinion? Having worked in the banking industry for 18 years I do know how to calculate PE and I also understand company balance sheets, however I don't buy into a share based only on the fundamentals. I usually take several factors into consideration before buying a share and if I look at the factors now that I considered before buying into TRAF then I see no reason to sell. There is nothing in the Interim Results announced today to make me think the story has changed. The Chief Executive also seems to be confident that planning will be granted for the Staplehurst development.

doodle

you are saying nothing but talk talk and talk, just give figures and reasons.

your banking background says nothing to me ( maybe you better did not mention it ) there is good reasons to say those working on this areas know nothing better than loose money for client and themself ( a bit of a joke but true)

Yes my opinion, but I give figures and why, about time you do also if you want me to aswer any more.

I am only saying what I see on the figure compare with share prices lately

ontheturn - I'm not here to try and persuade you, or anyone else, to buy this share! You obviously have done your own research into this company and don't like what you see. We can just agree to differ. :-)

But...

I am still wating for you numbers and reasons to make you buy the shares earlier at much higher prices than now

Jam tomorrow is not good enough for me or for any investor when there are so many undervalued companies ( low share price does not mean undervalue just plenty of shares on the market cap)

ontheturn - here you go, some numbers & reasons for you - just for starters. If you would like another 20 pages then just ask.:-)


Trafalgar New Homes plc (TRAF)

Valuation and conclusion
A size-related valuation discount to its peer group is to be expected, although we would make the point that in our opinion the highly focused nature of the group’s operation on the South East region of the UK where housing demand is high and supply relatively limited and its policy of outsourcing construction and legals, might suggest that the business model is possibly less volatile than that of its peers.
Exhibit 7: Valuation comparatives for a selection of quoted housebuilders
Source: Consensus forecasts – Hemscott; Allenby Capital forecasts
Priced intra-day 15 July 2013
Conclusion
The residential housebuilding sector has been outperforming the general market for the past eighteen months and since the beginning of 2012 the share prices of the above companies have increased by an average of 185%. Much of this improvement has been generated by government initiatives designed to kick start the housing market which now appears to be succeeding. Clearly TRAF, with a market cap of £4.6m, is a minnow compared to the £1.4bn average market cap of the sector, however it is exposed to one of the UK’s major housebuilding hotspots, South East of England, and its model is substantially de-risked by its outsourcing of the design and build process.
By any valuation measure the shares are attractive, even after applying a 25% size-based discount to the shares and in addition offer a prospective dividend yield of 3.3% for the current year to March 2014, which is higher than any offered by its peer group aside from Persimmon which is currently in the process of distributing surplus capital back to its shareholders and as such the prospective yield is unlikely to be sustainable.
Fair value set at 4.5p
We believe initial fair value should be set at 4.5p, a 125% uplift from the current share price, which would still only put the shares on a PER of 9.4x for FY 2014 and 8.2x for FY 2015 indicating discounts of 52% and 46% respectively to the sector averages.PriceMarket Company(p)Cap (£m)Y1EY2EY1EY2EY1EY2EY1EY2EPersimmon1,302 3,953 68.082.719.115.775.095.05.8%7.3%Taylor Wimpey107 3,463 5.77.018.815.31.21.51.1%1.4%Barratt Developments351 3,438 14.623.024.015.32.24.50.6%1.3%Berkeley Group2,320 3,045 170.0182.013.612.735.038.01.5%1.6%Bellway1,445 1,759 83.0100.017.414.525.030.01.7%2.1%Bovis Homes854 1,145 40.550.021.117.112.015.01.4%1.8%Crest Nicholson362 911 24.529.014.812.54.17.21.1%2.0%Redrow244 903 13.017.018.814.41.52.50.6%1.0%Telford Homes319 186 20.222.815.814.07.08.22.2%2.6%Gleeson (MJ)349 184 8.912.939.227.11.31.40.4%0.4%Abbey750 161 44.050.017.015.08.08.51.1%1.1%Inland Homes30 60 1.8n/a16.7n/a0.1n/a0.3%n/aMar City12 39 0.81.216.010.0n/an/an/an/aAverage1,481 19.415.31.1%1.5%Trafalgar New Homes2.04.60.480.554.23.60.0650.0753.3%3.8%Note: The yield on Persimmon relates to the company's Capital Return Plan which aims to return a total of £1.9bn of surplus capital to shareholders by 2021TRAF Yr1 and Yr2 refer to years ending March 2014 and March 2015 respectivelyEPS (p)PER (x)Dividend (p)Yield (%)
Housebuilding stocks have risen by 185% since the beginning of 2012
An attractive valuation by any measure
Initial fair value set at 4.5p offering 125% upside.

Allenby Capital.

.

any one can copy and paste ( and next time try to do it a bit better I do not like to see/read - jargon -) that was from July when the stock came to market @ 2p.

do you own home work

otherwise I will believe my early thought I am talking to a beguiner with not much idea of valuation

ontheturn - I did my own homework and part of it was reading this broker's note! I don't know what a "beguiner" is, but, just guessing what you are trying to say, I have been trading shares since 2003. When I have an up-to-date re-assessment from Allenby Capital I will post it on this thread - meanwhile, with respect, while you are not impressed with my maths I am not impressed with your lack of command of the English language. :-) Next time try to do a bit better!

Up 12% today, following on from Friday's 11% gain.

To top for management.

Interest rates will stay low until Britain enjoys a prolonged period of strong growth, a Bank of England policymaker has said in a speech indicating that historically cheap credit will remain in place well beyond next year.

Spencer Dale, the Bank's chief economist, said the weakness of the UK economy and the threat of further shocks to the world economy meant Threadneedle Street would want to see a combination of strong growth, low unemployment and rising incomes before raising rates.

His trinity of targets is likely to be welcomed by mortgage payers given the flurry of reports that the Bank will be forced to raise rates next year to calm the current growth spurt.
The likelihood is that while growth has already begun to accelerate, wages are unlikely to begin rising above the rate of inflation until 2015 and only consistently by 2016 when the Bank expects unemployment to fall to its target of 7%.

Addressing a group of business leaders, Dale said the recent optimism could not be taken for granted.

"Events of the past few years may colour and contaminate business behaviour for many years," he said. In particular, he suggested that "the reluctance today of some companies to borrow from their banks may be less a lack of demand and more a breakdown of trust", which adversely effects "the efficient functioning of our economy".

His comments echo the stance taken by the Bank's governor, Mark Carney, who has dismissed concerns that it would need to respond to rising house prices with higher rates.

Dale said the housing market had a tendency to behave like a microwave, "turning from lukewarm to scalding hot in a matter of a few economic seconds", but argued that the central bank is "far better equipped to respond to these types of risks than in the past".

To counter underlying fears among many business people, who have proved reluctant to invest in new equipment and technology since the financial crash, interest rates must remain low.

Dale said: "You can plan for the future in the knowledge that the MPC [the Bank's monetary policy committee] intends to keep interest rates low until we've seen a prolonged period of strong growth, unemployment is significantly lower, real incomes are higher."

He added that his best guess is that such conditions for raising rates remain "some way in the distance".


The Guardian.

Plot 12 ( £650,000 ) at Oakhurst Park Gardens now sold STC.

TRAFALGAR NEW HOMES PLC ORD 1P 3.38 -6.89%

The over valuation did not last, low of the year

I've sold out of these for the time being - it's like watching paint dry here at the moment. I'm usually quite patient with shares, but there is a lack of newsflow from the company at this time of year when the house sales should be perking up. The Combe Bank Homes website isn't updated regularly, which suggests sloppy business practice to me.

Not much happening on the website.

My fault folks for buying a few these - maybe they may sell a chimney pot soon!! Why does everything I touch turn to lead?

3 monkies - I've just had a look at the Combe Bank Homes website and it has been updated to show 3 properties are now sold and 3 are sold STC, so at least that is an improvement!

Cheers doodlebug4., may we await a brick or the letter box being sold next. One has to try to have some sort of sense of humour.!!!!

Take a look at MAR thats a proper housebuilder.

Falling back again today.

Trading Update
RNS
RNS Number : 7063D
Trafalgar New Homes PLC
01 April 2014



Trafalgar New Homes plc

("Trafalgar New Homes" or the "Company")



Trading Update



Trafalgar New Homes, the AIM quoted property developer operating in southeast England, today provides an update on trading for the financial year to 31 March 2014, and in particular, on sales at its Oakhurst Park Gardens development in Hildenborough, Kent.



Since marketing commenced in the autumn last year, the Company has had considerable interest in Oakhurst Park Gardens from prospective buyers. The 12 unit development included planning permission for limited private garden space and a condition for the rest of the circa two acres surrounding the development to be retained as private open space for residents. Following advice from its planning consultants, the Company applied for this planning condition to be removed, which was expected to be a formality, to enable larger private gardens for each home and be more attractive to prospective buyers. Following significant delays beyond the Company's control, the application was eventually approved on 27 February 2014, enabling the Company to reignite its sales effort.



Despite the interruption, the Company had secured interest from prospective purchasers for four of the units, but could not proceed until the planning permission was amended, and these have now been converted to sales. The Company had also been in negotiations with an investor buyer for the purchase of the eight remaining units. However, after careful consideration it has been decided that it is not financially economical nor in the best interests of the Company to proceed with the proposed transaction. The Company therefore reports that as at 31 March 2014, it had sold four units at Oakhurst Park Gardens, with a further two now under offer. The Board is confident that further sales will be achieved at Oakhurst Park Gardens in the next quarter.



It had been anticipated by the Company that the twelve units at Oakhurst Park Gardens would have been sold with a view to the profit being generated being recognised in the financial year ending 31 March 2014. The effect of the unexpected planning delays and the decision to not proceed with the investor buyer has caused the Company to be able to only include the sale of four units at Oakhurst Park Gardens in the 2013/2014 financial year. As a result, the financial results of the Company for the year ended 31 March 2014 will be significantly below market expectations. It was also the Board's intention to pay a dividend as a result of sales at Oakhurst Park Gardens, but this also will be postponed and the Board will seek to pay dividends as soon as financially possible.



Elsewhere, construction work is underway on the two house scheme at Ticehurst, East Sussex and at Sheerness, Kent, contractors are pricing up the six house scheme to start construction in the near future.



At the Company's major site at Staplehurst, Kent, the planning process is being progressed and the directors are confident that planning will be forthcoming during the first half of this year. On the site at Burnside, Tunbridge Wells, the planning process is also being progressed to obtain consent for four houses on the property, to replace the six apartment scheme which the Company has planning permission for and which is expected will yield a greater profit.



Also in the pipeline, contracts have been exchanged to buy a two house development project in Borough Green, Kent, with planning permission and work on site will be starting within the next three months. In addition, negotiations are taking place to buy two further sites conditional on planning consent being granted in Tunbridge Wells, Kent (10 houses) and Matfield, Kent (2 houses ).

Hammered again today.

Hardly surprising mitzy reading that RNS, especially the second paragraph. It's quite amazing that they put houses at that price on the market and then decided that the gardens were not large enough to warrant the asking price.

See your point doodlebug.

Still falling back db.

Difficult to value this tiddler. Esp. with prospects of building a mere handful of properties. It doesn't smell like the Big League, so I wonder what credentials their Dirs have -= being happy to work for such a small Biz.
Sp is under 1p with a PE almost in double-figures; yet there's no sight of a Dividend.

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