AGM Statement (3444K)

TIDMTEF

RNS Number : 3444K

Telford Homes PLC

14 July 2011

 
 Press Release   14 July 2011

Telford Homes Plc

("Telford Homes" or the "Group")

AGM Statement

Telford Homes Plc (AIM: TEF), the residential property developer in East London noted for regeneration projects within public sector partnerships, will hold its Annual General Meeting ("AGM") at 3:00pm today at First Floor, Stuart House, Queensgate, Britannia Road, Waltham Cross, Hertfordshire. At the AGM the Chief Executive of Telford Homes, Jon Di-Stefano, will make the following statement:

"Telford Homes has maintained a strong rate of sales since the start of the new financial year and to date the Group has sold 233 open market properties across seven developments. This represents an increase of over 50 per cent against the same period last year and is in line with management expectations.

"Since securing the new bank facility on 31 March 2011 the Group has agreed terms to buy a number of new development sites that together are expected to add in excess of 400 homes to the development pipeline.

"As detailed in the Preliminary Results, I became Chief Executive of the Group on 1 July 2011 and Katie Rogers is expected to become our new Financial Director with effect from the AGM today. Katie has been with Telford Homes for three and a half years and is currently the Group's Financial Controller.

"The property market in East London has been robust despite a continued lack of mortgage finance at affordable levels. There remains a shortage of homes in London and improving transport links and ongoing regeneration in the area underpin our geographic focus. The Board is pleased to confirm that the Group is trading in line with market expectations for the current financial year and the long-term outlook for Telford Homes remains strong."

- Ends -

For further information:

 
 Telford Homes Plc 
 Jon Di-Stefano, Chief Executive     Tel: +44 (0) 1992 809 
                                                       800 
                                   www.telfordhomes.plc.uk 
 
 
 Shore Capital 
 Pascal Keane / Edward Mansfield   Tel: +44 (0) 20 7408 
                                                   4090

Media enquiries:

 
 Abchurch 
 Henry Harrison-Topham / Joanne Shears     Tel: +44 (0) 20 7398 
                                                           7709 
 joanne.shears@abchurch-group.com        www.abchurch-group.com

For further information, please see www.telfordhomes.plc.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

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