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Do people really need to be led by the hand with a repeated comment on a year of unequal halves? Full year EPS will be at least 47p ( almost 30% ahead of last year ) and total dividend will be at least 17p.Because TEF build tower blocks not houses,they will never show as smooth a set of figures on a short term basis as the house builders.What matters is that EPS increase from one year to another,which months that happens in,does not matter.There will be those who look at the interim results next month and think the sky is falling in.

https://www.standard.co.uk/news/london/east-london-still-racing-ahead-as-olympic-boom-creates-110000-jobs-a3653881.html?utm_content=buffer30e1e&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

Index trackers are the way to go for the average know nothing amateur investor,but it is worth noting that the FTSE 100 was at 7000 at the start of the year 2000 and essentially has gone nowhere since.It is not possible to anticipate how markets will value a business,you can only really focus on operational achievement.An example of this is your other interest,Purplebricks,who are a way off making a profit but have an astronomical market value.We are surely not going to let Brexit damager the UK in general or London in particular,the referendum vote was not a decision to bring that about....was it?.You are either a speculator in share prices,which is basically a gamble,or you are a businesslike investor who focuses on operational achievement.If a company regularly increase EPS,the market does eventually recognise that,albeit not always when you expect.

TEF was established in 2000 and they have not disappointed yet,they are very adept at dealing with anything thrown at them.The move in focus towards a 50/50 private sales/IPRS production should keep EPS growing beyond the period covered by current guidance.Long term,their London focus will pay off in spades.a world class amazing place to live,work and play.

In advance of the interim results for period ended 30 September,we have the trading update next Wednesday.Fpr the year ending 30/03/18,we have been guided to expect. turnover �346.2m profit after tax � 35.6m EPS 47.1p dividend 17.0p NAV 226m what the split between H1 and H2 will be is difficult to estimate at this stage.As,always with trading updates,any signals of what is expected for H2 and beyond,are keenly awaited.

Bookies see 33% risk of her resigning this month.

https://www.theguardian.com/money/2017/oct/06/uk-house-prices-rising-fastest-eight-months-halifax

http://www.telegraph.co.uk/property/house-prices/london-property-market-wont-bounce-back-2021/

trading update due Wednesday 11 October,what will the SP be at close of business Friday 13 October (ouch)?.

https://www.standard.co.uk/business/market-report-housebuilders-raise-the-city-rafters-on-may-s-10bn-boost-to-help-to-buy-a3648336.html

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=INL&ArticleCode=lk0xvx6h&ArticleHeadline=Share_buyback_programme

Some posters here are commited long term holders who are convinced by the long term operational strategy being followed here.It is not for some,about minute comparison pf ROE,PBV,PEG etc ratios between TEF and other home builders.Our BOD are a cautious group who have decided the time is right to move the business towards a 50/50 private sale/IPRS strategy.Also they almost exclusively build blocks of apartments rather than houses,which does make comparison with their larger peers difficult.So far,guidance has proved to be accurate and that is comforting and with some effeort,it is possible to get quite close to understanding almost up to the minute operational achievement.The very tight geographical focus on one of the most vibrant,buzzy,cosmopolitan cities on earth also makes a lot of sense albeit that occasionally,other parts of the country may show higher HPI and % volume growth.Its about risk assessment for some of us and TEF appears to offer the best option for thoses of us who prefer not to dance in and out of different stocks.Obviuosly if you have a unique level of foresight,switching can be very advantageous,but for the normal stiffs,it is about keeping it simple.

https://www.cala.co.uk/-/media/files/news/cala-full-year-results-2017-final.pdf?la=en

http://www.bbc.co.uk/news/business-41459446

On the basis of current guidance,TEF has an EV in the region of 492p to 499p for October.

3 Directors sold a total of 1.65m shares yesterday. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=TW.&ArticleCode=ew0fah08&ArticleHeadline=DirectorPDMR_Shareholding

You are asking a very difficult question,which at this stage,nobody can answer with full confidence.TEF are a relative tiddler in a big pond,run by capable,experienced,hungry,honest people,ambitious to become a major player in the home builder market.Perhaps a sensible rolling 5 year plan would involve growth averaging about 15% per annum,which compounds up into doubling EPS every 5years.They are small enough and operating in a market big enough,to make this a realistic achieveable ambition.

Strictly....your share transfers seem to have a mesmerising effect on share prices.

http://news.sky.com/story/london-worst-performing-house-price-region-for-first-time-since-2005-11058599

https://www.propertywire.com/news/uk/new-build-market-uk-stronger-second-hand-market-new-analysis-suggests/