Telford Homes Regulatory News (TEF)

5 Sep 2006 07:01

Telford Homes PLC05 September 2006 FOR RELEASE AT 7.00AM 5 SEPTEMBER 2006 TELFORD HOMES PLC ('Telford Homes' or the 'Company') TRADING UPDATE Telford Homes Plc issues the following trading update for the year ending 31March 2007. Interim results will be announced on 21 November 2006. The directors are pleased to announce that the strong start to the year reportedat the time of our Annual General Meeting on 6 July 2006 has continued withsales progressing well. In particular, all 179 private homes at our developmentin High Street Stratford, OneStratford, are now sold with 175 contractsexchanged and the remaining four proceeding to contract. In addition, we have secured an enhanced planning consent at our majordevelopment in South Woodford, Queen Mary's Gate, increasing the number of homesin the development from 441 to 498. Although we have not yet begun marketing ofthe private apartments (the launch is at the end of September), we have alreadyregistered enquiries from more than 800 prospective purchasers, indicating verystrong interest in this development. We have already sold 14 of the 16 privatetownhouses that form the first phase of the development. New land opportunities are continuously being appraised as we seek to extend ourdevelopment pipeline; we have recently exchanged contracts to acquire anothersite close to the future Olympic Park which we hope to develop in the mediumterm. As a result of successful trading to date, the directors expect the interimresults to be very strong with profits weighted towards the first half of theyear. In addition, we are confident that our results for the year ending 31March 2007 will exceed current market expectations. For further information please contact: Telford Homes PlcAndrew Wiseman, Chief Executive 01992 809800Jon Di-Stefano, Financial Director This information is provided by RNS The company news service from the London Stock Exchange