Trafalgar New Homes PLC Year End Trading Update (5714U)
April 08 2016 - 4:24AM
UK Regulatory
TIDMTRAF
RNS Number : 5714U
Trafalgar New Homes PLC
08 April 2016
8 April 2016
TRAFALGAR NEW HOMES PLC
('Trafalgar' or the 'Company' or the 'Group')
Year End Trading Update
Company to report a return to profit for the full year
Trafalgar New Homes plc (AIM: TRAF), the residential property
developer operating in southeast England, today provides an update
on its trading for the year ended 31 March 2016 ahead of its final
results, which are expected to be announced in July 2016.
The Group is pleased to report that trading in the second half
has been good, with the completion of property sales at both its
Ticehurst and Borough Green projects. The Company is in line to
meet its full year market expectations, with revenue expected to be
in the region of GBP2.2 million and the Group to return to
profit.
Trafalgar now anticipates a period of growth for the business,
looking to complete developments with a currently expected total
gross development value of GBP7.8 million, over a two-year period
on sites which it owns.
Commenting, CEO, Chris Johnson, said:
'The Company is delighted by the completion of the two projects
at Ticehurst and Borough Green which means that market expectations
for the full year will be met and Trafalgar will return to profit.
We are confident that the difficulties we experienced in the first
half of the year are now firmly behind us and that there are no
further legacy issues.
We now look forward to entering into a period of growth and we
anticipate FY17 being a strong year. There is a robust development
pipeline which has a total gross development value of GBP7.8
million. We believe that local residential demand will remain
strong, despite the new stamp duty levies now in place, and that
there remains significant scope for us to exploit the buoyant house
building market in the southeast. The outlook for the Company is
exciting and we look forward to providing a further update at our
full year results."
Enquiries:
Trafalgar New Homes plc +44 (0)1732 700000
Christopher Johnson
Allenby Capital Ltd - Nominated Adviser and Broker +44 (0)20 3328 5656
Jeremy Porter/James Reeve
Yellow Jersey PR Limited +44 (0)7825 916 715
Dominic Barretto/Alistair de Kare-Silver
Notes to Editors:
Trafalgar New Homes is the holding company of Combe Bank Homes,
a successful residential property developer operating in the
southeast of England. The founders of Combe Bank homes have a long
track record of developing new and refurbished homes, principally
in Kent.
The Company's focus is on the select situation of land for
residential property development. The Company outsources all
development activities, for example the obtaining of planning
permission, design and construction and uses fixed price build
contracts. This enables the Company to tightly control its
development and overhead costs.
The Company focuses on the regions of Kent, Surrey, Sussex and
the M25 ring south of London and targets development sites of up to
20 homes, with sales prices typically ranging from GBP250,000 to
GBP1,500,000 per unit.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTAKODDBBKBAQK
(END) Dow Jones Newswires
April 08, 2016 04:24 ET (08:24 GMT)
Trafalgar Property (LSE:TRAF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Trafalgar Property (LSE:TRAF)
Historical Stock Chart
From Jul 2023 to Jul 2024