May 31 London-focused housebuilder Telford Homes
reported a 5.9 percent rise in pretax profits to 34.1
million pounds ($43.65 million)on Wednesday and said it was on
track for a rise to over 40 million pounds in the current year
and 50 million the following year.
The company, which also reported a 19 percent rise in
revenue to 291.9 million pounds, said it had already secured
more than 80 percent of anticipated gross profits for the year
ending next March with an increased focus on building rental
homes and said demand would continue to outpace supply in the
non-prime areas of the capital in the "foreseeable future".
The company increased its total dividend payout for the year
by just over 10 percent to 15.7 pence a share, including a final
dividend of 8.5 pence and said it remained confident in
delivering continued growth, supported by the chronic shortage
of homes in London.
"Notwithstanding some uncertainty created by the outcome of
the EU referendum we have experienced robust demand for our
homes from individual investors and owner occupiers", Telford
($1 = 0.7811 pounds)
(Reporting by Rahul B in Bengaluru; Editing by Greg Mahlich)