UK housebuilder Telford Homes posted record revenues over the past year but its pre-tax profits fell as it shifted its focus towards the less risky, lower-return rental sector.
Revenues at the Aim-listed company rose 12% to £354.3m in the year ended March 31, but pre-tax profits fell from £46m to £40.1m, according to its annual results published on Wednesday.
Its shares fell nearly 5% in response, to 288p by mid afternoon.
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Including:
Majority of boroughs did not start a single residential development in the first quarter of this year
The deals at Korol’s Mansel Court set a fresh benchmark at £56.50 per sq ft
Theo Plowman to join housing association
The consultancy reports double-digit earnings growth in Q1 2025
