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.

Current sp is back where it was in 2004.

Strong move up on results.

+14.5% on strong volume - golden cross imminent?

Up another 8.3% today.

Up today on an otherwise down day!

Up 8.6% - the spread is a bit of a killer though!

Selected yesterday on the UPS thread .........

TEF 100p ( 98 -102p )
Reason: Are excellent value with an experienced management team and strong balance sheet. At a discount of 25% NAV, results next Wednesday, last update "Full year figures expected to be materially ahead of market expectations" Expectations are for EPS 13.40p (already 10.6p at 1H) a PE of 7.6 but that will be well beaten.

Intraday Chart

3 month candlestick with volume

2 days - 15 min

3 month

TEF 104 / 108p +6p

doing nicely ahead of results on Wednesday

Recovering from the earlier mark down ( a few sales ) but since since after 11am is all buyers and many more than earlier sells but MMs are holding the price down due to the FTSE being 145 points lower.

Tomorrow is RESULTS

link to "plus market "

Trades at "plus market "

Preliminary Results.

Financial Highlights

Revenue increased to 159.3 million (2009: 106.7 million)

Profit before tax and exceptional items increased to 8.1 million (2009: 7.3 million)

Net assets increased to 63.1 million (2009: 50.3 million)

Net debt reduced to 37.2 million (2009: 107.2 million)

Final dividend of 1.25 pence which, together with the 0.75 pence interim dividend, makes a total dividend for the year of 2.0 pence (2009: Nil)

Exceptional costs remained unchanged from interim results at 780,000 (2009: 3.0 million)

Trading Update.

Highlights

● Strong sales achieved in the first six months of the financial year with a 30 per cent increase in the number of contracts exchanged

● Demand from both overseas and UK buyers
● Full year results to 31 March 2012 anticipated to be in line with market expectations with a significant increase expected in the year to 31 March 2013

● Healthy balance sheet with cash and bank funding in place to make further land acquisitions and add to the development pipeline

Preliminary Results.


Highlights

· Contracts exchanged for the sale of 460 open market properties, an increase of 25 per cent (2011: 368)

· Number of open market properties completed ahead of expectations at 314 (2011: 281)

· Increase in gross profit margin to 17.6 per cent (2011: 15.1 per cent) and operating margin to 6.2 per cent (2011: 5.2 per cent) with further improvements anticipated

· Profit before tax and exceptional items ahead of market expectations at £3.0 million (2011: £2.5 million)

· Substantial increase in profit expected for the year to 31 March 2013 with over 65 per cent of open market homes expected to complete already pre-sold

· Reaffirmed intention to pay a progressive dividend year-on-year and as such final dividend proposed of 1.5 pence making a total of 3.0 pence for the year (2011: 2.5 pence)

· Over 50 per cent of open market completions in the year to 31 March 2012 were sold to UK buyers, predominantly owner-occupiers

· Complemented by continuing overseas investor demand attracted by high rental yields and the fundamental strengths of the London market

· Agreed to purchase nearly £50 million of land since 1 April 2011 with a focus on locations where demand is stronger and less reliant on mortgage constrained buyers

Trading Update

Highlights

● Strong sales achieved, exchanging contracts on 218 open market properties in the six months to 30 September 2012

● London property market remains buoyant in our area of operation with demand from both overseas and UK buyers

● Significant increase in profits expected for the period with a total of 252 legal completions achieved (H1 2011: 125) and considerably improved margins

● Profit before tax for the year to 31 March 2013 anticipated to be in line with market expectations and heavily weighted to the first half of the financial year

● The Group already anticipates profits ahead of market expectations for the year to 31 March 2014 due to pre-sales secured at higher than expected margins

● Extended debt facility of £90 million provides sufficient headroom to develop all existing schemes and acquire new sites

Joined Dill and skinny here. Results tommorrow.

IC week ahead comment......

TEF TELFORD HOMES

Following an upbeat trading statement last month from east London housbuilder Telford Homes (TEF), investors will already have a good idea about what to expect from its half-year figures on 28 November. Progress is likely to be robust with legal completions having more than doubled to 252 and with profit margins up. Indeed, at the time of the update, management was expecting to meet pre-tax profit consensus estimates of £8m for the year to end-March 2013, giving EPS of 11.8p, up from £3m a year earlier, while pre-sales secured at higher than expected margins will push 2014's pre-tax profit beyond consensus estimates of £12m, with EPS of 17.9p. Demand from overseas investors remains high, too, both from owner-occupiers and investors attracted by the high rental yield. The group is already 85 per cent sold for the current year and 50 per cent for the year to end-March 2014.

TEF TELFORD HOMES

The companys concensous EPS forecast figure
for the full year P/E for 2013
is a meagre 14.6 and 9.6 2014,compared to the
historical figure of 37.8 for 2012.(actual)

Id say theirs plenty of upside to come from
this stock, plenty and plenty of upside especially
given the SOLD figures booked already.

Telford Homes PLC

INVESTMENT RATIOS
2012 (A) 2013 (E) 2014 (E)

EBITDA £4.93m £m £m
EBIT £4.74m £m £m
Dividend Yield 1.59% 2.31% 3.47%
Dividend Cover 1.66x 2.95x 2.98x
PER 37.82x 14.66x 9.66x
PEG 1.31f 0.09f 0.19f
Net Asset Value PS 125.44p p p


Hemscott Premium.

TEF TELFORD HOMES

Just about breaking out into a
52 week high.

Fingers crossed tomorrow this will
be confirmed on results day.

TEF TELFORD HOMES

Just about breaking out into a
52 week high.

Fingers crossed tomorrow this will
be confirmed on results day.

Hoping for a biggy here today and why not. Historical P/E 38 plus forward P/e just 14 and 9 plus, derd cheap and main seas0n for housing market coming up now.

Superb Results better than
expectations which were already very high.