I don't think their name "Telford" indicates where they operate - East London according to Shares.

The current sp 1.50 is more-or-less the price prior to the Olympic Bid, which probably gave the sp a boost, withouit looking to far to the cost involved.

It's been all downhill for the last 12-months - Oooo deary.
The yield isn't good, despite the fall.

Not a fan of tower blocks. Spent most of the 70,s and 80's gettıng rid of them only to go back to ıt.

yup - only down 15%!!

Odd that no-one thinks it was Director-Selling what done it?

Surely the "New Government" will have to get to grips with housing - OK that may mean building "Affordable Homes"
+((er, what does that mean....something under 10x Average wage for the Region? - that's £250k! )).
Cheaper homes coming on the Market could reduce the best-price Telford may achieve, but if "Planning" is relaxed - they can build more....

If immigration is eventually brought under control, the theory is that there will be over supply in the market. It will obviously take a while but the house builders have immediately been hit on that assumption, I think. Also, there is possibly going to be a move of foreign residents (pricipally in London) to other centres when some companies decide to relocate to Euro friendly cities.

thanks harry ....... an awful lot of unknowns still to be discovered

Only house builder up today.

StockMarketWire.com
Telford Homes said despite the non-binding outcome of the referendum it firmly believes in the longer-term merits of building homes in London.

"There remains a chronic shortage of supply and that will not change as a result of (the UK) leaving the EU," the company said.

"The Board also believes that London will not lose its attraction both as an international centre of finance or as a place where people want to live and work."

Telford Homes has a strong development pipeline and is in a robust financial position with cash resources available for future investment.

"As a result, the group will be able to take advantage of any opportunities created by current conditions balancing short term caution with continuing to plan for the longer term growth of the business."

In recent months Telford Homes has continued to build a substantial forward sold position, including £130 million from two Private Rented Sector (PRS) contracts, and successfully raised £50 million of new equity.

As a result the Group could not be in a stronger financial position to manage the impact of market uncertainty following the outcome of the EU referendum.

Total forward sales now exceed £640 million and, as reported on 1 June 2016 in the Final Results, the Group has already secured over 50 per cent of the cumulative revenue expected in the three financial years up to 31 March 2019.

This forward sold position has been boosted by the PRS sales of The Pavilions, N1, sold to a subsidiary of L&Q in February 2016 and Carmen Street, E14, sold to M&G Real Estate in May 2016.

As a result of these sales the £50 million placing funds raised in 2015 are largely uncommitted and in addition the Group has significant headroom in its secured £180 million revolving credit facility extending into 2019.

Non-binding outcome - entering the field of politics are we now Telford

The rest of the world's accepted the outcome - which includes that EU muppet Junker as well - get over it

technically they are correct, but practice (reality) is otherwise

There was no need to use the words 'non-binding'

Clearly it's a case of getting their excuses in early should results disappoint - cue 'it was because of Brexit'

Recent results were excellent with an increased divi .

Do not forget market is always looking ahead and 6 month better than 3........

MAIN NEWS OF THE DAY
House prices fell by 0.9% in June following Brexit, which was a bigger decline than expected.
--------------

% rise compare - BDEV, CRST, RDW, TW.

--------------------------------- 1 month -------------------------------------------------------- 3 month ------------------------------

We are due a house market wobble i have been saying this for a year ,prices are mad .

Central London house prices show biggest fall in 7 years after Brexit
Wed, 3rd Aug 2016 11:50

LONDON, Aug 3 (Reuters) - House prices in London's most expensive areas recorded their biggest fall in nearly seven years in July after the Brexit vote reinforced a downward trend caused by a rise in property taxes, a consultancy said on Wednesday.

Knight Frank's prime central London index fell 1.5 percent last month from a year earlier, due to the uncertainty created by the June 23 referendum and a rise in property taxes which pushed up prices and brought sales forward to the start of 2016.

"Since the vote, a number of buyers have requested discounts due to the climate of political and economic uncertainty," Head of London Residential Research Tom Bill said.

"The decision to leave the European Union has provided a backdrop of short-term uncertainty that is affecting behaviour in the prime central London property market," he said.

Prime central London stretches from Notting Hill and Knightsbridge, home to department store Harrods, in the west to the City of London and Islington towards the north and east.

In Knightsbridge, prices fell 7.3 percent last month, the biggest drop of any of the 15 areas examined whilst the biggest rise was 5.3 percent in the City of London.

Property prices in the capital's most desirable areas began recording annual declines in the run-up to the vote, according to Knight Frank, but July's fall is the biggest since October 2009, when Britain began recovering from the 2007-8 financial crisis.

But Knight Frank said that the primary reason for the decline remained changes to stamp duty, a property tax, which raised the amount paid on the most expensive properties and on second homes and buy-to-let investments, key to the central London market.

Commercial property took the biggest hit in the wake of the EU referendum with investors pulling out money from funds, forcing some to be suspended.

But there have been warnings in recent weeks from housebuilders and estate agents that residential property prices and demand could suffer.

Britain's biggest housebuilder, Barratt Developments , said last month that it might slow the pace of construction to prepare itself for an expected slowdown. London-focussed estate agent Foxtons blamed Brexit for its slump in profits.

Knight Frank said rental values last month fell 3.6 percent in London, a city where many young professionals cannot afford to buy their own homes due to high property prices.

The number of prospective tenants fell 6.8 percent year-on-year in the three months to the end of June, impacted by the vote, it said.

This may not be as bad for Telford as it is in central London ,Telford build cheaper more affordable homes (half million pounds) which is not so much in the high end .

Soon be making the sound of a pound.

With the interest cuts just announced to 0.25%, the ones to benefit most would be stocks with plenty of borrowing.
Is TEF is one of them?

Borrowings
In March 2015 the Group secured a new revolving credit facility for £180 million which was increased from £120 million. This new facility runs until March 2019 and allows the Group to be much more flexible in its approach to site acquisitions. It is governed by standard corporate covenants together with site covenants on a portfolio basis. During the year the Group has benefited from a significantly reduced rate of interest compared to the previous facility as the rate is determined by the Group's gearing which has remained low throughout the year. The margin payable on the facility can vary from 2.8 per cent to 4 per cent dependent on gearing.

During the year the Board took advantage of favourable market conditions on longer term interest rate hedge products and entered into an interest rate swap on a proportion of its future anticipated drawn debt. This has reduced the Group's exposure to interest rate increases and will become effective from 1 October 2016 expiring on 4 March 2019. The swap initially secures the interest rate the Group will pay on £50 million of debt increasing to £100 million from 4 June 2017 as the Group's debt utilisation is expected to increase over this period.

As at 31 March 2016 the Group had utilised £40 million of the facility (31 March 2015: £95 million) leaving £140 million of headroom for investment in the existing and future development pipeline. Gearing has reduced to 9.3 per cent (2015: 43.9 per cent) although this is expected to increase in future years as the Group utilises more of the facility. The headroom in the facility along with the increased equity due to the placing means the Group is in a very strong financial position to enable the significant growth expected over the next few years.

ST of IC today - So, ahead of a pre-close trading update in mid-October, I rate Telford’s shares a buy on a bid-offer spraed of 289p to 289.5p and have a target price of 370p. Buy.

Ouch director selling after last week rise and another 10p today.....

Telford Homes Land Director Sells Shares

LONDON (Alliance News) - Housebuilder Telford Homes PLC on Tuesday said Land Director James Furlong sold 48,917 shares at a price of 320 pence per share on Friday.

He holds about 1.3 million shares, a 48,000 sale is peanuts. Only purchased the 48,000 a month before. Just a quick profit.

Jim Furlong 1,314,342 2.18%



Why-builders are a good-bet post Brexit-Ultra-low-mortgage-rates-help-Britons-looking-buy-home.html