October 11, 2017 / 6:06 AM / 8 months ago

BRIEF-Telford Homes says H1 profit to be significantly lower than H2

* ‍existing pipeline of over 4,000 new homes to be delivered across London​

* ‍average expected price of open market homes in group’s pipeline is £530,000​

* ‍increasing emergence of institutional build to rent investment in london housing market​

* ‍acute need for more homes to buy and rent in non-prime areas of london continues to underpin group’s longer term growth plans​

* ‍pre-tax profit for H1 2018 expected to be significantly lower than H2 2018 and lower than last year​

* ‍all developments are on time and in accordance with board’s expectations​

* ‍interim dividend expected to increase in accordance with anticipated full year profits​

* ‍on track to exceed £40 million of profit before tax for year to 31 march 2018 in accordance with market expectations​

* ‍longer term strategy remains to continue to grow telford homes and deliver more of homes that london needs​ Source text for Eikon: Further company coverage: (London newsroom)

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