Updates

Telford Homes - High confidence in the year ahead

January 2015

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Telford has reported a superb H1 with pretax profits up 22% to £9.4m. The period saw 12% less revenue at £65m as Telford only books a sale when it hands over the keys –but mainly due to the very strong performance of Avant Garde development/Shoreditch, which represented a significant portion of total sales, there was a substantial increase in the gross profit margin, which reached 36.6% (versus the 31.9% reported in FY14). A higher than usual number of completions are set to come through in H2. Normally in an election year, a housebuilder could be expected to underperform as home buyers hold onto cash while they await the election verdict but Telford is delivering with metronomic reliability. The size ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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