Telford Homes Regulatory News (TEF)

11 Apr 2006 07:00

Telford Homes PLC11 April 2006 TELFORD HOMES PLC ('Telford Homes' or 'the Company') TRADING UPDATE Telford Homes Plc issues the following trading update for the year ended 31stMarch 2006. Preliminary results will be announced on the 23rd May 2006. The Company has achieved its target for the volume of sales in 2005/6 at higherthan anticipated margins, reflecting a lower use of sales incentives because ofthe improving market. In addition, on the 20th March 2006 the Company completed the purchase ofanother significant site in Stratford, East London for £18.5 million. This sitehas a planning consent for 179 private apartments and 122 affordable apartments,together with an element of commercial space. The 122 affordable apartmentswere sold to Toynbee Housing Association simultaneously with completion of theland purchase, with a proportion of turnover and profit recognised in 2005/6. As a result of these developments the Company expects to announce resultsmaterially in excess of 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