Inner London-focused housebuilder Telford Homes says it expects full-year pretax profit to beat market expectations of £8m.
The company said it had exchanged contracts for 803 properties in the year to the end of March 2013 compared with 460 this time last year. It said 94% of its homes had been presold for the year to the end of next March and about half were presold for each of the following two years. Demand from both overseas and domestic buyers were strong and domestic purchasers accounted for about 60% of transactions. The shares closed up 5.86% at 262p.
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Times 42, 51
