Trafalgar New Homes PLC Trading update (4134H)
August 17 2016 - 4:00AM
UK Regulatory
TIDMTRAF
RNS Number : 4134H
Trafalgar New Homes PLC
17 August 2016
Trafalgar New Homes plc (the "Company")
Trading update
Trafalgar New Homes plc (AIM: TRAF), the residential property
developer operating in southeast England, announced its audited
results for the year ended 31 March 2016 on 10 August 2016, which
provided an update on the Company's pipeline of projects. In
particular, it is anticipated that the build work for a new
substantial detached house in Speldhurst, Kent will be completed in
the spring of 2017 with a sale hopefully being achieved during the
summer of 2017. The Company had been expecting to secure an
off-plan sale for the property and exchange contracts prior to the
financial year end of 31 March 2017. Whilst this still might be the
case, the Company has changed its accounting policies in line with
updated accounting standards so that property sales are only
recognised upon completion of the contract, rather than on
exchange. Accordingly, as the sale of the Speldhurst house is
expected to complete after the end of the current financial year,
revenue and profit before tax for the year to 31 March 2017 will be
lower than current market expectations.
Enquiries:
Trafalgar New Homes Plc +44 (0)1732 700
Christopher Johnson 000
Allenby Capital Ltd - Nominated
Adviser and Broker +44 (0)20 3328
Jeremy Porter/James Reeve 5656
Yellow Jersey PR Limited +44 (0)7768 537
Dominic Barretto 739
This information is provided by RNS
The company news service from the London Stock Exchange
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