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Telford Homes ShareCast News (TEF)
ShareCast News for Telford Homes (TEF)
| Share Price: 253.00 | Bid: 252.00 | Ask: 256.00 | Change: -1.00 (-0.39%) |  | ||||||
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Land Director of Telford Homes tops up stake in firm
Tue, 17th Jul 2012 16:44
James Furlong, the Land Director of Telford Homes, a London-focused residential property developer, has purchased 33,627 shares just one week after the firm assured investors at its annual general meeting (AGM) that its sales continue to be secured at a healthy rate across all of its developments.
Furlong, 76, purchased the shares at 107.00p each for a total of £35,981, taking his total number of shares to just under 1.4m, equal to 2.79% of the issued shares capital.
Speaking at the AGM last week, Telford's Chief Executive, Jon Di-Stefano, said the company continues to perform well, assisted by continuing strength in the London property market.
"To date the group has either legally completed or pre-sold over 70 per cent of the open market homes targeted to complete in the year to 31 March 2013. Due to development timings the board expects profits for the current financial year to be weighted towards the first six months."
Unaudited profit before tax in the three months to June 30th already exceeds the £3.0m achieved in the whole year to March 31st 2012.
"We remain confident in developing in London where there is considerable demand as well as a continued shortage of homes. The board still expects a substantial increase in profits for the year to 31 March 2013, in line with market expectations, and the outlook for the group remains strong," he added.
Top Director Buys
Telford Homes (TEF)
Director name: Mr James Furlong
Amount purchased: 33,627 @ 107.00p
Value: £35,981
Altitude Group (ALT)
Director name: Mr Martin Roy Varley
Amount purchased: 125,000 @ 18.75p
Value: £23,438
NR
Furlong, 76, purchased the shares at 107.00p each for a total of £35,981, taking his total number of shares to just under 1.4m, equal to 2.79% of the issued shares capital.
Speaking at the AGM last week, Telford's Chief Executive, Jon Di-Stefano, said the company continues to perform well, assisted by continuing strength in the London property market.
"To date the group has either legally completed or pre-sold over 70 per cent of the open market homes targeted to complete in the year to 31 March 2013. Due to development timings the board expects profits for the current financial year to be weighted towards the first six months."
Unaudited profit before tax in the three months to June 30th already exceeds the £3.0m achieved in the whole year to March 31st 2012.
"We remain confident in developing in London where there is considerable demand as well as a continued shortage of homes. The board still expects a substantial increase in profits for the year to 31 March 2013, in line with market expectations, and the outlook for the group remains strong," he added.
Top Director Buys
Telford Homes (TEF)
Director name: Mr James Furlong
Amount purchased: 33,627 @ 107.00p
Value: £35,981
Altitude Group (ALT)
Director name: Mr Martin Roy Varley
Amount purchased: 125,000 @ 18.75p
Value: £23,438
NR
Telford Homes to beat full year forecasts
Shares of London focused property developer Telford Homes rallied after it said full year pre-tax profit is expected to be ahead of markets forecasts as strong demand continues.[18 Apr '13]
Admiral Group Chairman trades in 100,000 shares
A round-up of the biggest director deals today so far.[7 Mar '13]
Telford Homes quadruples profit
East London homebuilder Telford Homes said half year profit quadrupled after strong demand for inner London locations and it expects profit to grow significantly in 2013.[28 Nov '12]
Telford Homes sees surge in sales
London focused residential property developer Telford Homes saw a significant rise in first half profit while sales momentum continued as demand for its London property remains strong.[22 Oct '12]
TT Electronics non-exec doubles stake
A round-up of the biggest director deals today so far.[30 Aug '12]
Land Director of Telford Homes tops up stake in firm
A round-up of the biggest director buys today so far.[17 Jul '12]
Telford Homes eyes 2013 profit surge
East London homebuilder Telford Homes posted a healthy increase in annual pre-tax profit and expects strong sales of finished homes in the last six months of the year.[30 May '12]
Telford Homes to beat market expectations
East London focused residential developer Telford Homes said pre-tax profit in the year ended March 31 2012 is expected to be ahead of market expectations after strong sales in the second half.[16 Apr '12]
