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.

Will you be surprise if I say EPS ( earnings per share will be down this YEAR 2016)
Most of the peers have increased profits by 20 and 30%, so no wonder of the underperformance of the stock........

Well Profit will be up 3% Fcast
but consider that the number of shares will be up by 13.29%

That is the reason for lower EPS on the next results

Forecast for Year 2016
adjusted pre-tax profit up from 32,2 million to £33 million.

No of shares
2015 - 66,07M
2016 - 74,85M ( after a 13,88M placing ) some added on the 2015 results (5,7M )

ST of IC today - Institutional demand for PRS growing
Another positive is that Telford is currently in discussions with a prospective purchaser for the sale of its third private rented sector (PRS) development this year. The company has already offloaded around 300 homes in its pipeline with a development value of £130m to M&G Real Estate, and a subsidiary of L&Q, one of the UK's leading housing associations and one of London's largest residential developers. These deals reflect increasing institutional demand for high-quality, well-located developments to be 'built for rent'.
There is decent financial upside from PRS sales because assuming Telford achieves close to its target operating margin of 15 per cent, it will earn huge profits on the £130m of revenue generated from the two schemes. Profits will be recognised earlier because under contract accounting standards it is based on a percentage build basis rather than on legal completion of the schemes. Furthermore, Telford has no debt finance on its PRS developments, has recouped its land costs and is fully carried on funding, so will make a higher return on capital employed that on a normal housing development. Admittedly, it forsakes net margin to secure the sale of a complete development, but it’s good business as this mitigates risk.
Frankly, with Telford’s shares priced on 8.25 times earnings estimates, rated on a 5 per cent premium to end March 2017 book value estimates and offering a forward dividend yield of 5.4 per cent, investors are pricing in a sharp reversal of house prices at the more affordable end of the London market despite the strong supply-demand dynamics of the market segment Telford is targeting. And with analysts forecasting cumulative EPS of almost 140p over the next three financial years even in a flat London market, of which over 50p a share is earmarked for dividends, this progressive earnings profile is simply not being reflected in the current valuation.
Offering more than 30 per cent share price upside to my 370p target price, I continue to rate Telford’s shares a buy.

2 value stocks with a P/E below 8 - By Rupert Hargreaves | Fool.co.uk – Tue, Oct 18, 2016

Brexit has thrown up some incredible bargains in the small-cap market. While the plunging pound has sent the FTSE 100 to yearly highs, small-cap domestic-focused equities have suffered. In some cases, the sell-off of domestic equities has been so aggressive and relentless that groups of small-caps are now trading at mid-single-digit P/Es with high-single-digit dividend yields.

It's not clear why investors have dumped these equities at such a rapid rate. Yes, there's some concern about what will happen to the UK economy when the dust settles after Brexit. But a mid-single digit P/E suggests that the market believes these companies' earnings will fall by 50% or more, which seems excessive in many cases.
Telford Homes (LSE: TEF) and Utilitywise (LSE: UTW) are two such post-Brexit bargains.

Housing crash?
Year-to-date shares in Telford are down by 27.3%. It appears that analysts and investors worried about the company's exposure to the UK's housing market, specifically in London where Telford has a significant presence. However, Telford's management doesn't appear to be worried about the state of the market, and when analysing the firm the figures speak for themselves. Indeed, Telford's forward sales stand at £640m, which is 50% of the company's expected revenues over the next three years.

With revenues for the next three years locked up, Telford at least deserves to trade at a market average multiple, but this isn't the case.
Shares in the company currently trade at a forward P/E of 8.2 ( 297.50p ), falling to 6.2 next year and support a dividend yield of 5.3%. The group's net asset value per share was just under 250p at the end of March, so after recent declines, the shares are trading at a price-to-book value of 1.2.

A defensive sector
The utility sector is considered one of the market's most defensive. Unfortunately, it looks as if the market believes provider Utilitywise can't offer the same kind of defensive proposition as the rest of its industry.
Shares in Utilitywise have lost 23% of their value year-to-date and currently trade at an extremely attractive forward P/E of 7.1 and City analysts are expecting the company to report earnings growth of 25% this year and 8% for 2017.
That being said, Utilitywise is no stranger to controversy. The company has come under scrutiny in the past for its accounting, and some analysts are worried about the firm's exposure to small businesses, which are likely to suffer more than most in any economic downturn.

When it comes to the question of Utilitywise's accounting practices, it looks as if the concerns are unfounded. One way to quickly spot if a company is inflating profits is to look at cash flows, which are harder to manipulate. For the period ending 31 July, Utilitywise reported a cash inflow from operations of £12.4m, compared to net income of £18.4m. Working capital changes accounted for the majority of the difference in the figures. Put simply; the company is generating plenty of cash and it looks as if there's nothing to be worried about.

Looking for income?
If it's dividends you're after but you're worried about the outlook for Utilitywise and Telford why not check out this special report, which gives a rundown of what I believe is one of the hottest dividend stocks in London today.

rather a nice write-up for TEF i thought

MrM won't touch them i'm sure - or at least he was distinctly less than enthusiastic about the company just a few days back
to be fair to the boy, he likes stocks which he needs to hold for <20 days, but TEF is more of a longer term investment

C

just tell us the truth ...... is a stock that you lose a lot of money

it's a stock i hold in my sipp and yes it is showing a loss, but i am happy enough to hold it for the long term ..... i like its property portfolio; it has a good divi; it looks undervalued as the article points out

I still do not like the stock, as there is no growth on the stock at the moment, negative EPS ( less earnings than last year )

Most of the House builders are at below PE than TEF and growing

just cuz there is writing about TEF does not mean I will be interested is buying at this point.

And more good news for the sector today......

UK construction sector activity firms in third quarter

(ShareCast News) - UK construction workloads lifted slightly in the third quarter, though growth in London was depressed by Brexit uncertainty, according to a survey of the sector published on Thursday.

The Royal Institution of Chartered Surveyors (RICS) quarterly construction market survey found a balance of 19% of surveyors reported an increase in current construction workloads in the quarter, up from 17% in the preceding period.

Of all the subsectors, infrastructure was the most positive, with a balance of 17% reporting rising workloads.

Private housing saw the highest levels of growth compared to other construction sectors, with a balance of 27%.

The private commercial sector saw the workload balance dip marginally to 16% from 17%.

"What the figures mask, is the disparity between the kinds of properties that are being built," said Jeremy Blackburn, head of policy at the lobbying group.

"When the Communities Secretary publishes his Housing White Paper later this month, he must deliver a housing programme that benefits more than the just the fortunate few. We need to shift the rhetoric away from home ownership and encourage the building of affordable rental properties in the suburbs and our cities."

Eduardo Gorab at Capital Economics said it was worth bearing in mind that by being above zero, all of the main sectoral balances still point to rising construction activity.

"More encouragingly, the forward-looking aspects of the survey showed a more dramatic improvement. Indeed, rising to 49% from a three-year low of 23%, the future workloads balance rose above the survey average of 31%. Similarly, employment intentions and profit expectations also recovered much of Q2's losses," he added.

"Yet, at 35% and 22% in Q3, these balances are still lower than in Q1 when they stood at 41% and 38%."

He added that skill shortages are likely to continue to constrain the sector and that tighter future immigration controls may well exacerbate this problem.

i must confess there are shares i too do not like and will not buy - and they're doing very well - ie ASC and FXPO

The MAIL - By MYRA BUTTERWORTH and NICK ENOCH FOR MAILONLINE: , 21 October 2016

The best home you can build on a shoestring: Could this two-bed house that can be built for less than £50k be the answer to Britain's housing crisis?

Self Build on a Shoestring judges included Grand Design's Kevin McCloud
The low-cost 'Modulhus' starter home is priced from £49,600
It is a two bedroom home covering 66 sq m
The modules design means it can work as a standalone home, or be stacked to create a terrace or a block of flats

Most first-time buyers can only dream of buying a home for less than £50,000 - but it is possible if you're prepared to go 'modular'.
This involves selecting pre-fabricated, low-cost modules of various sizes which are then put together by skilled craftsmen.
The customer can then choose the interior design, giving an end-product which could be an office, hotel, school or house - and that includes starter homes.
The Modulhus, one such starter home, has now been crowned winner of an annual shoestring design competition.
The two-bedroom house covers 66sq m and costs from just £49,644 to build.

The 'Modulhus' - modular house - which has been crowned winner of an annual shoestring design contest has two bedrooms and costs less than £50,000 to build
Options inlcude a pitched roof module

The Modulhus can be bought as a finished product or as structure-only, allowing for a complete customisation of internal and external finishes
The timber homes, made from fully-finished factory parts, are built off-site - and eco-efficient features, such as solar thermal panels (which are used to help heat water) can be added.
And the customer can also choose the roof, be it bitumen, clay, concrete roof tiles or a tin cover.
The price of the project does not include the land that the houses are built on - something which substantially drives up the price of new homes.

Looking for a cheaper mortgage? Compare the best rates and get fee-free advice
However, easy and cheap to construct houses like the Modulhus are being touted as the way forward for new projects involving freeing up state-owned land at a low cost to get more homes built for the UK

The Modulhus - designed by architects Barton Willmore and EcoMotive - won first prize at the international Self Build on a Shoestring competition.
The judges, including TV presenters Kevin McCloud of Grand Designs, George Clarke of Amazing Spaces and Charlie Luxton of Homes by the Sea, praised the winner for its 'low-cost modules'.

TV presenter of Grand Designs Kevin McCloud was one of the judges of the Self Build on a Shoestring competition
Kevin McCloud said: 'Self-build and custom-build will be a significant part of our housebuilding mix in the future.
'That's a really exciting prospect. But for it to really take off we ought to be exploring new ways that people can build affordably and, for that matter, collectively, like they do across Europe.

'The Shoestring Competition is not just a quest to find brilliant new ideas, it's an important petri-dish for innovation in British housing, to find new ways to help get people on to the housing ladder and help develop new models of affordability.'
For self-build to really take off we ought to be exploring new ways that people can build affordably

The winning architects were presented with the £5,000 competition prize by Charlie Luxton at the Grand Designs Live exhibition at the NEC.
Mr Luxton said: 'The UK housing sector is far too focused with a few major builders producing the vast majority of our new homes.
'This small pool of supply has resulted in a lack of innovation, this competition seeks to redress this huge issue at the heart of our housing industry.
'The flexibility and adaptability of the Modulus gets to the core of why people want to self build - choice.

The modular design means it can work as a standalone home, or with several added together to create a terrace or a block of flats

'It also deals with ideas of scaleability and delivery that are key to affordability, in-line with the ambitions of this competition.'

Runners-up included projects called Half a House and The Self Build Guild - both could also be built for less than £50,000.
Former winners of the National Custom Self Build Association (NaCSBA) competition are now seeing their designs built.
They include the self-build 'Barnhaus', which was built around the idea of a farmer's hay barn and won the Self Build on a Shoestring competition in 2013.

One of this year's joint runners-up in the competition was a project called Half A House

The Self Build Guild was the other joint runner up in this year's self build on a shoestring competition

Former winners of same competition include the 'Barnhaus', based on a farmer's hay barn
The winner of the same 2015 competition was this project that could 'easily be assembled by two people'

The winner of the same 2015 competition was this project that could 'easily be assembled by two people'

Read more: http://www.dailymail.co.uk/property/article-3848174/Is-answer-Britain-s-housing-crisis-two-bedroom-home-built-50K.html#ixzz4NwTPYceY

Interims 30 Nov

Interim Results
RNS
RNS Number : 4789Q
Telford Homes PLC
30 November 2016
 
 
 
Press Release
30 November 2016
 
 
 
Telford Homes Plc
 
("Telford Homes" or the "Group")
 
Interim Results
 
Telford Homes Plc (AIM:TEF), the residential property developer focused on non-prime London, today announces its interim results for the six months ended 30 September 2016 ("H1 2017").
 
Highlights
·  
Strong forward sold position exceeding £700 million of revenue to be recognised from the year to 31 March 2017 onwards (1 April 2016: £579 million)
·  
Long term imbalance between the supply of homes and demand for somewhere to live in non-prime areas of London
·  
Successful off-plan launch of City North, Finsbury Park in November 2016 selling 72 homes over three weekends for a combined value in excess of £43 million
·  
Increased opportunities in the 'build to rent' sector earning higher capital returns
·  
No changes to the Group's growth targets, profit forecasts or anticipated dividend payments as a result of the EU referendum
·  
With revenues weighted to the second half the Board is confident of meeting market expectations for pre-tax profits in the year to 31 March 2017
·  
Increased interim dividend to 7.2 pence (H1 2016: 6.5 pence) to reflect this confidence
·  
Substantial development pipeline of over £1.4 billion of future revenue
·  
Cautious approach to land investment in the last few months but a significant joint venture site in East London now being progressed and many more opportunities being appraised
·  
Gearing still historically low at 17.3 per cent (31 March 2016: 9.2 per cent)
·  
Well positioned to deliver on targets to exceed £50 million of annual pre-tax profit by 31 March 2019 and double the size of the business over the next five years
 
 
Jon Di-Stefano, Chief Executive of Telford Homes, commented:  "Telford Homes is in a very strong position with over £700 million of forward sales secured and a substantial development pipeline.  The recent launch of City North in Finsbury Park exceeded our expectations achieving over 70 sales at higher than anticipated prices and proving that the right product in the right location remains attractive to buyers."
 
"The Group is extending its involvement in the build to rent sector and expects an increasing number of opportunities to secure revenues and earn higher capital returns through forward funding arrangements with institutional investors.  Overall we are well positioned to deliver on our targets of achieving more than £50 million of annual pre-tax profit by 31 March 2019 and doubling the size of the business over the next five years."
 
- Ends -
 

30 Nov
Peel Hunt
485.00
Buy

Surprised this hasn't gone up in line with the other builders. Still good Divi .

Good to hold for the future jimmy.

My comment last month came to be true already at the interim stage

Profits, EPS and margins all lower, after the last capital raising and management is trying to avoid to mention on a clear way .............

Pretax
2016 - £9.0 million compared to
2015 - £21.0

Earnings per share: Basic
2016 - 9.9p
2015 - 28.0p

mentor - 14 Oct 2016 13:47 - 210 of 224 edit this post

Will you be surprise if I say EPS ( earnings per share will be down this YEAR 2016)
Most of the peers have increased profits by 20 and 30%, so no wonder of the underperformance of the stock........

Well Profit will be up 3% Fcast
but consider that the number of shares will be up by 13.29%

That is the reason for lower EPS on the next results

Forecast for Year 2016
adjusted pre-tax profit up from 32,2 million to £33 million.

No of shares
2015 - 66,07M
2016 - 74,85M ( after a 13,88M placing ) some added on the 2015 results (5,7M )

AGM Statement
Thu, 1st Dec 2016 07:00

RNS Number : 6282Q
Inland Homes PLC
01 December 2016
 
 
1 December 2016
Inland Homes PLC
 
('Inland Homes', 'Inland', the 'Company' or the 'Group')
 
AGM Statement
 
Inland Homes (AIM: INL), the specialist housebuilder and brownfield land developer, provides the following statement ahead of its Annual General Meeting to be held today, 1 December 2016 at 11.00am.
The Group's housebuilding programme is gaining significant momentum with a record 394 homes currently under construction across 12 sites. 54 Homes have been reserved since the start of the new financial year, which is an average of 2.5 units per week. Of particular note recently was the off-plan launch of 54 units at Meridian, Southampton where 12 units have been reserved in the first eight weeks. This scheme has consent for 351 homes to be constructed in four phases.
Adding to this, Inland Homes is pleased to announce today the receipt of planning consent for 239 units at our site, Lily's Walk in High Wycombe which is in our joint venture with CPC Group Limited.  Lily's Walk is a prime 3.5 acre site in the centre of High Wycombe, located directly opposite the Eden Shopping Centre.  
 
Since 1 July 2016, the Group has received planning consents or resolutions to grant planning consents on 373 plots and 19,000 square feet of commercial space.  We have planning applications awaiting determination for 1,746 residential units, with applications for, approximately, a further 470 residential units to be submitted very shortly.
The land bank currently stands at 7,220 plots, of which 1,415 have a planning consent or a resolution to grant planning consent. There are pre-application discussions regarding a further 1,802 plots ongoing.
As reported in the annual accounts for the year ended 30 June 2016, the timing of the construction of our sites, together with planned land sales is such that a major part of our profitability in the current financial year will be realised in the second half. The previously reported setback that was caused by the financial failure of a contractor, which resulted in the slight delay of 23 legal completions, is now virtually behind us and the momentum is gathering with a growing number of sites being constructed by our in-house build team. 
Stephen Wicks, Chief Executive at Inland Homes, commented:
"Following on from the robust set of results we announced in October, which reflected a year of significant operational and strategic progress, we are pleased to report that the momentum is continuing to escalate behind our building programme, with a record number of homes for the business under construction, underpinning the Company's growth strategy.
"The investment we have made in developing our in-house construction capability to self-deliver our homes is already producing tangible benefits and it's an area of the business that we are continuing to focus on to further increase levels of certainty on delivery, whilst reducing costs. Moreover, we are working on a number of initiatives through which we hope to be able to offer even lower cost housing in the South East, where price remains a barrier to many people owning their own home.    We look forward to providing some more detail on this is in the New Year."
               
ENDS

A buy from IC today - Shore Capital forecasts pre-tax profits of £33.2m and EPS of 35.6p for the year to March 2017 (from £32.2m and 39.1p in FY2016).

Hi dreamcatcher.
We seem to have an interest in similar stocks. Just returned from agm of Inland Homes and the Body language of the Directors said it all not to mention the facts they put out in the presentation. So have just sold all my holdings in Telford (at a small loss) and put the whole lot into Inland at 0.59. I have divi to come in Jan.
I am looking for them to go back to 0.80 in a much shorter time than Telford will get to £4.
Time will tell.

Hi Colin,
Good luck I hope Inland performs well for you. I like the management of Telford homes and their goals for the future. Not in a rush. There may be an initial drop of perhaps most builders when we brexit. So there could be good buying opportunities for builders. Will watch Inland homes with interest and may pick up a few as well. Good luck.