Telford Homes Share Discussion Threads

[aishah] 12/10/2016 09:24

Pleased with the update. Peel Hunt retains BUY and 485p target.

[tudes100] 12/10/2016 08:43

Long term shareholder, happy to continue holding.

[amencorner] 12/10/2016 07:29

Yes, TU update today; says current H1 to be lower than last years H1 due to timing but H2 expected to deliver:
The Group's reported profits in any given period are driven by the number of open market completions achieved and there were far fewer of these in H1 2017 than H1 2016. This is purely down to development timings which are all on track and in accordance with the original programmes but do not always fall equally across the year. Completions of individual properties are proceeding exactly as planned with no unexpected delays.



As a result of the weighting of completions across the year pre-tax profit for H1 2017 will be lower than last year but entirely in line with expectations. The interim dividend is proposed to increase in line with the anticipated full year profit growth and will not be affected by weighting between the two half year periods. To date Telford Homes has secured 95 per cent of the open market homes anticipated to complete in the year to 31 March 2017 and 87 per cent of the gross profit expected in the year. The Board's expectations for the full year to 31 March 2017 and further into the future remain unchanged and the Group is on track to deliver significant growth in both output and profits over the next three years.

[tudes100] 12/10/2016 01:00

trading statement Wed ?

[loobrush] 11/10/2016 17:23

Valuation

Simon Thompson in August


So, ahead of a pre-close trading update in mid-October, I rate Telford’s shares a buy on a bid-offer spread of 289p to 289.5p and have a target price of 370p. Buy.

370p would be nice.

[speedsgh] 07/10/2016 11:02

Government will buy homes developers can’t sell in £2bn housebuilding drive -

... Jon Di Stefano, Telford Homes chief executive, said the scheme was a “good idea” in principle, but raised questions about how the government would sell units that builders had been unable to dispose of.

“You’ve still got to find the end user at the end of the day. If we can’t sell them, why can’t we sell them? And therefore, how is the government going to sell them? And if the government is going to rent them out, we should be capable of getting there ourselves,” he said.

“If it’s on publicly owned land it can’t be a bad thing, but there are things to consider.”

Di Stefano also warned that labour shortages could hold back the pace of development - an issue that could be exacerbated by the Brexit vote. “It’s about whether there will be enough construction resource,” he said.

[speedsgh] 04/10/2016 13:18

Housebuilders buoyed by £5 billion fund for new homes -

... Jon Di-Stefano, chief executive of London-focused Telford Homes, added: “It sounds extremely encouraging, especially the funding for SMEs. There are a lot of sites that should be being done by smaller builders, but they have not got the funding to do it.”

[bigwavedave] 07/9/2016 15:04

I could have timed it better, as usual.

[seans66] 06/9/2016 07:24

Record set of results from Redrow today. Very similar chart to TEF.

[bigwavedave] 30/8/2016 12:04

Got some here. Wasn't keen on builders but liked this one.

[hillofwad] 23/8/2016 11:50

TEF are best placed to benefit from any stimuli as they occupy a unique place at the xover of public and private housing .NW 99 half year results at end of the year with a trading update beforehand ,They are currently practically completing on 3 developments where its difficult to estimate how many will fall before the end of September,the half year so profits might be skwered either H1 or H2. An important milestone will be the sale of the third PRS where they are probably finalising negotaitions of the one they had under wraps before brexit News of this could be any day soon which will really wipe their backside

[zho] 22/8/2016 16:56

The government is readying a post-Brexit vote housing package that will provide billions of pounds to residential developers in an attempt to abate the housing crisis and stimulate the flagging economy.

[nw99] 22/8/2016 15:54

Buy ahead of results

[nw99] 22/8/2016 12:44

Does look way to low here

[tromso1] 22/8/2016 12:07

Just been tipped by Simon Thompson.

[onjohn] 27/7/2016 16:20

Heading to 350p

[muscletrade] 27/7/2016 06:41

hillofwad...agreed. Great deal, excellent news.

[hillofwad] 26/7/2016 13:22

More than interesting- To secure a loan of this magnitude from a US based global real estate outfit with the current background of property funds heading through the door is smashing it This development is of alrger magnitude than Stratosphere.Telford are currently being valuedata round £208m by the market.It also means that their £140m unused facility can be entirely devoted to their other projects.This is a very good scheme in a buzzy location Their current facilty is costing them between 2.8 and 4% and maybe this is going to cost them a little more but a small price to pay.Best of all possible news

[shanklin] 26/7/2016 09:50

Interesting...

[cerrito] 17/7/2016 23:21

Thanks
1gw
Nothing much to add..they will not be sending any more road trips to HK this year..but my impression is that quietly confident on continued sales to mainland China...they are still going full steam ahead in construction ie not cutting out over time working as they want to complete what they are constructing as soon as possible
For me what is key is that they have financial flexibility and in hindsight their equity raise late last year was a good move.

[shanklin] 15/7/2016 10:06

Thank you 1gw

[1gw] 15/7/2016 10:03

I believe so. The annual report states "The Group takes a minimum 10 per cent deposit on exchange of contracts and,where sales are more than two years ahead of completion, typically takes another 10 per cent twelve months after exchange."

I thought one of the directors told me that over 90% of total sales (not just those completing this year) had already got the 20% deposit paid, although there were a lot of numbers going round and I wasn't taking notes at the time so I may have got this wrong.

However, if you look at the annual report, they state that at the 31st March 2016 they had taken £70m in deposits in advance of build completion. They also reported £579m of forward sales at 1st April 2016. So the "average" deposit held there is 12%. But that £579m may include IPRS sales (and possibly affordable sales as well) which probably don't have a "deposit" as such, so the average deposit on private sales would probably have been rather higher than 12% I would have thought.

[shanklin] 15/7/2016 09:15

P.S. On this year's sales, will at least 10% have already been paid on the sold properties?

[shanklin] 15/7/2016 09:08

1gw

Thank you, that's very helpful.

Particularly good to hear that they are "Almost completely sold for this year"

Cheers, Martin