Editor's Pick: Markets: The week that was (16-20/11/09)
(TEF.L) Telford Homes PLC Buy/Sell
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| Date/Time | Headline | Source |
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| 21-10-09 | RNS |
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RNS Number : 1129B Telford Homes PLC 21 October 2009
Press Release 21 October 2009 Telford Homes Plc ("Telford Homes" or the "Group") Trading Update Telford Homes Plc (AIM:TEF), the residential property developer in East London noted for regeneration projects within public sector partnerships, is pleased to give the following trading update ahead of its interim results for the six month period ended 30 September 2009 which will be released on 2 December 2009. Highlights * Extended the £57 million grant programme agreed with the Homes and Communities Agency ("HCA") to £73 million * £14.8 million of HCA grant received by 30 September 2009 with a further £13.4 million received in October as a result of starting the construction of 324 new affordable homes since 1 April 2009 * Net debt reduced in the period by £36 million to £71 million * Successful H1 securing 224 open market completions (H1 2008: 119) * Full year figures expected to be in line with market expectations Current market conditions The six months to 30 September 2009 has seen Telford Homes achieve 224 open market completions, continuing the Group's programme of handing over developments which were pre-sold primarily during 2006 and 2007. However the availability of mortgage finance and the time taken to process mortgage applications, whether for owner-occupiers or investors, has not improved and continues to delay the completion of the majority of pre-sold properties. Despite the constraints on mortgages, the housing market in East London has shown positive signs during the period with the ongoing shortage of homes in the area, a strong lettings market and the 2012 Olympics all contributing towards improving sentiment. Telford Homes has continued to market finished homes at Queen Mary's Gate, Woodford, and at Nayland Court, Romford and since 1 April 2009, 19 sales have been completed across the two sites. There are 26 additional sales currently proceeding as a result of increased demand in recent weeks. The Group has also been able to re-sell 36 properties that have either failed to complete or were significantly delayed, and has retained the original 10 per cent deposit in each case. Affordable housing and HCA grants Telford Homes has maintained its strong position with housing associations, which minimise the risk of each development and reduce exposure to the open market. The Group's status as a grant partner of the HCA is a significant strength and the original £57 million grant programme has been extended to £73 million during the period. £14.8 million of this had been received by 30 September 2009 and a further £13.4 million has been received in October as a result of starting the construction of 324 affordable homes across three development sites and two estate regeneration projects. The remaining grant will be received over the next three years as the construction of affordable housing on the Group's developments is undertaken and completed. Debt The Group has focused on cash generation and reducing net debt by achieving completions, not investing in new land, and controlling expenditure on work in progress. Assisted by the HCA grant receipts this has been very successful and has exceeded management expectations by reducing net debt to £71 million at 30 September 2009 from £107 million at 31 March 2009. Outlook The Group has performed well during the period achieving a number of completions earlier than forecast and with new sales being secured at a steady rate. The Board anticipates that the results for the full year to 31 March 2010 will be in line with market expectations. Andrew Wiseman, CEO of Telford Homes, commented: "The Board is pleased with the resilience of the housing market in East London, which affirms our confidence in our area of operation. Our prudent approach and strong partnerships with housing associations positioned us well for the downturn, allowing us to adapt successfully to economic conditions and enabling us to continue construction with reduced risk. We are experiencing steady activity in the market but we remain cautious in our approach to new investment."
For further information:
Telford Homes Plc
Jon Di-Stefano, Financial Director www.telfordhomes.plc.uk
Shore Capital
Media enquiries: Abchurch Henry Harrison-Topham / Joanne Shears Tel: +44 (0) 20 7398 7709 joanne.shears@abchurch-group.com www.abchurch-group.com Notes to Editors Telford Homes is an established residential property developer focusing on the regeneration of brownfield sites in the East and North London area. The Group's strong public sector partnerships afford it a certain level of security of sales before commencing development. Whilst the majority of every scheme is residential, often some commercial units are required as a condition of the planning consent, which may be used for office space, retail units, or community facilities. The Group's successful record of selling properties at an early stage in the development allows greater visibility. Telford Homes also has an excellent track record of working with housing associations and has forged many strong relationships, and typically part of every development is sold for affordable housing. The Group's affiliations with housing associations in the area have meant that during this downturn in the open housing market the Group is able to deliver some developments as 100% affordable housing schemes. Telford Homes has secured grant funding of £73 million from the Homes and Communities Agency ("HCA") across five of Telford's own sites and three estate regeneration partnership projects with Eastend Homes. This funding enables the Group to develop affordable housing sites with sales to housing associations already secured. The Greater London Authority is predicting an increase of 800,000 in London's population over the next ten years, and forecasts that the city will need 30,000 new homes per year throughout this period. This huge pressure on the supply of new homes creates significant demand for Telford Homes' services in this region. For further information, please see www.telfordhomes.plc.uk This information is provided by RNS The company news service from the London Stock Exchange END
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| 21-09-09 | RNS |
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RNS Number : 3973Z Telford Homes PLC 21 September 2009 21 September 2009 Telford Homes Plc ("Telford Homes" or the "Company") Issue of Equity The Company announces that it has, today, made application to the London Stock Exchange for the admission to trading on AIM of 519,911 new Ordinary Shares of 10p each to satisfy the requirements of the 2009/10 Share Incentive Plan. The new shares are expected to be admitted to trading on AIM on 28 September 2009. Following this admission the Company's share capital and Total Voting Rights comprises 40,400,000 Ordinary Shares of 10p and the Company does not hold any shares in treasury. Consequently, 40,400,000 is the figure which may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, Telford Homes under the FSA's Disclosure and Transparency Rules. Enquiries: Telford Homes Plc
Shore Capital
This information is provided by RNS The company news service from the London Stock Exchange END
IOEMGGZLFMVGLZM More |
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| 21-09-09 | RNS |
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RNS Number : 3466Z Telford Homes PLC 21 September 2009
Telford Homes Plc ("Telford Homes" or the "Company") Telford Homes wins two Mail on Sunday British Homes Awards 2009 Telford Homes plc (AIM:TEF), the residential property developer in East London noted for regeneration projects within public sector partnerships, has received two awards at the Mail on Sunday British Homes Awards, held on 17 September 2009 at The London Marriott Hotel. The Company won the Innovation Award for Building Technology for its development Stadthaus in London, N1, which has strong eco-credentials given the building's pioneering solid timber cellular structure. Telford Homes also won the prestigious Homebuilder of The Year Award, which recognises the Company's commitment to sustainable regeneration, strong architectural design and landscaping, establishing new communities and innovative construction methods. Andrew Wiseman, Chief Executive Officer of Telford Homes, commented: "These awards are a testament to the work of the whole team; from the design and planning stage, all the way through construction to the sales and marketing efforts. We are delighted to be recognised for the strength of our design skills, as well as our dedication to environmental initiatives. Our focus on the East London area means that we are committed to creating communities through designs that are sensitive to residents' needs and we are pleased that our work is highly regarded."
Telford Homes Plc
Jon Di-Stefano, Financial Director www.telfordhomes.plc.uk
Shore Capital
Media enquiries:
Abchurch
Henry Harrison-Topham / Jack Ballantyne Tel: +44 (0) 20 7398 7714
Notes to Editors Telford Homes is an established house builder focusing on the regeneration of brownfield sites in the East and North London area. The Company's strong public sector partnerships afford it a certain level of security of sales before commencing development. Whilst the majority of every scheme is residential, often some commercial units are required as a condition of the planning consent, which may be used for office space, retail units, or community use. The Company's successful record of selling properties at an early stage in the development allows greater visibility. Telford Homes has an excellent track record of working with housing associations and has forged many strong relationships, and typically part of every development is sold for affordable housing. The Company's affiliations with housing associations in the area have meant that during this downturn in the open housing market the Company is able to focus more intently on 100% affordable housing schemes, as well as making a greater proportion of current developments affordable housing. Telford Homes has secured funding of £57 million from the Homes and Communities Agency ("HCA") across four of Telford's own sites and three estate regeneration partnership projects with Eastend Homes. This funding enables the Company to develop affordable housing sites with security of sales already in place. The Greater London Authority is predicting an increase of 800,000 in London's population over the next ten years, and forecasts that the city will need 30,000 new homes per year throughout this period. This huge pressure on the supply of new homes creates significant demand for Telford's services in this region. For further information, please see www.telfordhomes.plc.uk This information is provided by RNS The company news service from the London Stock Exchange END
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| 11-08-09 | RNS |
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RNS Number : 2519X Telford Homes PLC 11 August 2009 TR-1: Notifications of Major Interests in Shares
TELFORD HOMES PLC 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:
2. Reason for notification (yes/no)
An acquisition or disposal of voting rights An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights
Other (please specify):______________
3. Full name of person(s)
subject to notification
obligation:
4. Full name of shareholder(s) Alpha Securities Trading Limited
(if different from 3):
5. Date of transaction (and
date on which the threshold is
crossed or reached if
different):
6. Date on which issuer
notified:
7. Threshold(s) that is/are crossed or reached: 8: Notified Details A: Voting rights attached to shares
If possible use ISIN code transaction
B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
Total (A+B)
Number of voting rights Percentage of voting rights
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: Proxy Voting: 10. Name of proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information:
15. Contact telephone name: 0131 718 0411 This information is provided by RNS The company news service from the London Stock Exchange END
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| Date/Time | Subject | Author | ||
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| 30-10-09 | ||||
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It looks like the markets are having a fit!
And i thought the war was over, the US is out of recession isn’t it? More | View thread (1) | Respond | Login to Vote up | Login to Vote down |
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| 29-10-09 |
BUY
Re: Question!
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CH,
Thanks for your response! I completely agree with your thinking, in that to hold off with a dividend will only strengthen the buisiness, my only worry (slight & short term) now is that if shore capital are advising clients to expect a dividend, will this be damaging to the SP if it does not materialize? Possible short term damage I know, but I have to ask surley Shore Cap must take their pointers from somewhere! Anyway thanks for the response, i just wanted to know if the Shore Cap forecast was for a divi! dividend or no dividend, I'm just patiently waiting for the share to return to fair value, its massivley under valued at the moment. Good Luck! More | View thread (3) | Respond | Login to Vote up | Login to Vote down |
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| 27-10-09 | ||||
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hello blue ....i think that shore capital are forcasting a 3.7p dividend for the current year but i will be very,very surprised if they pay anything at all.wilth pay for employees frozen,debt still too high.mortgage availability still difficult.contract failures a worry,i hope they will not pay a dividend for the current financial year and it wouldnt go down well with anybody if the do.i dont expect a dividend for the following financial year either with earnings forecast to fall.plenty of time for dividends later when the housing market recovers properly,mortgage providers compete for business in earnest and telfords again firing on all cylinders.most of the shares in this business are held by directors ,staff and associated family members who i think believe that the long term strength of the company is far more important than short term dividends.still a fabulous investment though and slowly on its way back to 400p plus..ch
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| 27-10-09 | ||||
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A Question! CH maybe you could help?
I have contacted a mate of mine at telfords and asked about the dividend being re - instated, he was none the wiser, he didnt know, so my question is: What are the market expectations for Telford Homes, one recent post did mention a dividend of 3.7p, is this old news or is this what the market expects? Telford Homes trading update states "in line with market expectations", so what are the market expectations? I did call shore capital who told me I needed to be a client before I could view their analysis / research! Good Luck and thanks in advance! More | View thread (3) | Respond | Login to Vote up | Login to Vote down |
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