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.

Telford Homes - Popular Business Park that is only 800 meters from Canary Wharf

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Watch Jon Di-Stefano, CEO, Telford Homes talk to BRR Media at the company's Stratosphere launch event

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Listen: Jon Di-Stefano, Chief Executive, Telford Homes discussing the trading update

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Telford Homes reports strong demand

Telford Homes said continues to see strong demand for its homes in London and between contracts exchanged and properties sold, subject to contract, it has already sold more than 500 open market homes since 1 April 2014.

This compares favourably with the 515 contracts exchanged in the year to 31 March 2014.

Highlights for the six months to Sept. 30.:

Tremendous success at the October launch of Stratosphere, E15 with over 200 sales already achieved, a record number for a single site launch for Telford Homes

£16.3 million contract signed with Workspace to redevelop the first phase of Poplar Business Park with a gross development value ("GDV") in excess of £75 million

Development pipeline now over £1 billion of future revenue for the first time in the Group's history

Group well on track to deliver on growth and profit expectations for the next four years

Interim Results

Highlights

· Continuing sales success across all developments with contracts agreed for the sale of more than 600 open market homes since 1 April 2014 (year to 31 March 2014: 515)
· Over 270 of the 307 open market apartments at Stratosphere, E15 sold in the last few weeks
· Future revenue secured through open market and affordable forward sales exceeds £550 million
· Substantial land acquisitions have increased the Group's development pipeline to more than £1.1 billion of future revenue
· Major joint venture formed with Notting Hill Housing Group to develop a site in Stratford for more than 400 homes
· Strong margins maintained despite increasing costs
· Profit before tax increased to £9.4 million (H1 2013: £7.7 million)
· Dividend increased to 5.1 pence per share (H1 2013: 3.7 pence)
· Board very confident of meeting market expectations for the year to 31 March 2015

Fantastic results......

Trading update


Interim results for the six months ended 30 September 2014

Telford Homes Plc (AIM:TEF), the London focused residential property developer, today announces its interim results for the six months ended 30 September 2014.


Highlights


Continuing sales success across all developments with contracts agreed for the sale of more than 600 open market homes since 1 April 2014 (year to 31 March 2014: 515)
·
Over 270 of the 307 open market apartments at Stratosphere, E15 sold in the last few weeks
·
Future revenue secured through open market and affordable forward sales exceeds £550 million
·
Substantial land acquisitions have increased the Group's development pipeline to more than £1.1 billion of future revenue
·
Major joint venture formed with Notting Hill Housing Group to develop a site in Stratford for more than 400 homes
·
Strong margins maintained despite increasing costs
·
Profit before tax increased to £9.4 million (H1 2013: £7.7 million)
·
Dividend increased to 5.1 pence per share (H1 2013: 3.7 pence)
·
Board very confident of meeting market expectations for the year to 31 March 2015

Outlook

London is a fantastic place to be building new homes. The Group is developing in locations where people want to live and can afford to live, in an environment of chronic undersupply, and this is being clearly demonstrated by the success of every sales launch. Telford Homes is in the incredible position of having over £550 million of future revenue forward sold. This includes most of the homes due to complete in the years to 31 March 2015 and 31 March 2016 and many more in the following two years.

The Group has an unprecedented development pipeline and has the opportunity to achieve and then sustain the ambitious targets for growth set by the Board over the next four years and beyond. The Board remains very confident of a bright and exciting future for Telford Homes.

BRIEF – Telford Homes first – half profit rises 22 pct
26 Nov 2014 - 07:06

LONDON, Nov 26 (Reuters) – Telford Homes Plc

H1 pretax profit 9.4 million stg versus 7.7 million stg year ago
Interim dividend up 38 percent to 5.1 penceper share
Board very confident of meeting market expectations for year to 31 march 2015
Further company coverage: TELF.L

(Reporting By Costas Pitas) ((Costas.Pitas@thomsonreuters.com; +44 207 542 8024; Reuters Messaging: costas.pitas.thomsonreuters@reuters.net and @Cpitas on Twitter)

Telford Homes Profit Up On Margin Boost From Shoreditch Development
LONDON (Alliance News) - Telford Homes PLC on Wednesday said its pretax profit rose in the first ...

Alliance News26 November, 2014 | 9:08AM

LONDON (Alliance News) - Telford Homes PLC on Wednesday said its pretax profit rose in the first half as a fall in costs offset a decline in revenue, and the group's margins were boosted by the Avant-Garde development in east London.
Pretax profit in the six months to the end of September was GBP9.4 million against GBP7.7 million last year. Revenue was lower, down to GBP65.1 million from GBP73.7 million last year, but a decline in costs offset the fall. Cost of sales fell to GBP42.4 million from GBP53.8 million, outpacing the revenue decline.
The improvement in its margin was driven by the Avant-Garde development in Shoreditch, east London, where price growth in the area has pushed the profit margin for the development to more than 40%.
Telford said its results for the year would be weighted to the second half due to the larger number of open market completions due in that period.
The London-focused residential property developer said it has agreed the sale of more than 600 open-market homes since the start of its financial year in April, above the 515 sold in the year to the end of March. Future revenue via open market and affordable forward sales is more than GBP550 million, Telford said. Its development pipeline is now valued at more than GBP1.1 billion.
The group hiked its interim dividend to 5.1 pence from 3.7 pence last year and said it is "very confident" it will meet market expectations for the full year.
"London is a fantastic place to be building homes, and Telford Homes is developing in locations where people want to live and can afford to live," said Telford Chief Executive Jon Di-Stefano.
Shares in the company were up 0.1% to 359.80 pence on Wednesday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
- See more at: http://www.morningstar.co.uk/uk/news/AN_1416992928883634400/telford-homes-profit-up-on-margin-boost-from-shoreditch-development.aspx#sthash.gEvtIYC0.dpuf

Watch the interim results interview with Telford Homes' Jon Di-Stefano

http://www.brrmedia.co.uk/event/133074/?popup=true

Telford Homes PLC

FORECASTS

2015 2016
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Peel Hunt LLP
21-11-14 BUY 23.45 30.88 10.30 30.30 40.40 13.50
Shore Capital
21-11-14 None 23.00 30.30 10.10 30.00 40.00 13.30

2015 2016
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Consensus 23.22 30.58 10.20 30.14 40.19 13.40
1 Month Change 0.00 0.00 0.00 0.00 0.00 0.00
3 Month Change -0.02 -0.03 -0.01 -0.02 -0.02 -0.01

GROWTH
2014 (A) 2015 (E) 2016 (E)
Norm. EPS 86.53% 18.65% 31.44%
DPS 85.71% 56.85% 31.39%

INVESTMENT RATIOS
2014 (A) 2015 (E) 2016 (E)

EBITDA £21.55m £28.66m £36.80m
EBIT £21.16m £m £m
Dividend Yield 1.81% 2.83% 3.72%
Dividend Cover 3.96x 3.00x 3.00x
PER 13.96x 11.76x 8.95x
PEG 0.16f 0.63f 0.28f
Net Asset Value PS 171.92p p p

IC update

Some may worry that the booming London housing market is starting to slow, but Telford Homes (TEF) provides the ideal tonic in its interim figures. The east London builder has the kind of forward earnings visibility other house builders would love to replicate. Most homes due to complete during the years to March 2015 and 2016 have already been sold, with significant numbers reserved for the two years beyond. This translates into a forward order book of more than £550m, from a development pipeline worth more than £1.1bn.
Open market completions fell from 222 to 140 for the half, but this is simply a reflection of the timing of current developments; completions are expected to accelerate in the second half. Operating margins rose from 17.1 to 18 per cent, but it's worth noting that selling expenses - around 4 per cent of the revenue from a typical development - are written off as incurred, well before revenue generated from forward sales is crystallised. In fact, higher sales prices at Avant-garde, the group's joint venture development in east London, pushed margins there above 40 per cent. The target margin when appraising new opportunities remains at 24 per cent.
Analysts at Shore Capital are forecasting full-year pre-tax profits of £23m and EPS of 30.3p (from £19.2m and 25.8p in 2013-14) rising to 40p next year. IC View:
Telford's shares trade on a 2015 PE multiple of 12 times, falling to just 9 times in 2016 - which, given that sales for that year are virtually complete, looks achievable. We tipped Telford over four years ago (101p, 22 Apr 2010), but given the strong earnings visibility we stick by our advice. Buy.

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Cyners, BUY BUY BUY BUY BUY.

just been reading it ..... certainly one to put on the watch though i was amazed how few homes they build

Listen: Analyst interview - Telford Homes

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Telford Homes (AIM: TEF), the London-focused residential property developer, is pleased to announce that the Company has signed a new £180 million corporate loan facility to support its stated growth plans.

This £180 million revolving credit facility, which extends to March 2019, is being provided by the Group's existing banking partners, HSBC, RBS and Santander, together with a new partner, Allied Irish Bank. This enlarged facility replaces the Group's existing £120 million loan facility and provides significantly increased working capital flexibility at a lower cost of debt.

Katie Rogers, Group Financial Director of Telford Homes Plc, said: "The Board is very pleased to announce today that the Group has successfully negotiated a new and improved £180 million corporate loan facility that not only offers increased flexibility on site purchases and development funding but, importantly, allows the Group to facilitate its growth plans over the next few years. This new facility clearly demonstrates our banks' continued confidence in Telford Homes as well as the overall strength of the London property market."

Telford Homes - New £180 million corporate loan facility

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I'm just wondering how much upside is left short term, ie leading up to the Election and the volatility in the Indices. Jim Slater tipped it last week and it took off. Not far from it's highs in 2007. Looks way overbought on the indicators and outside the upper Bollinger Band. Watching. Rarely short stocks but never say never.

Trading update 22nd April.