Telford Homes Plc reported unaudited group earnings results for the six months ended September 30, 2018. For the period, the company reported group revenue of GBP 129,624,000 as compared to GBP 99,341,000 for the same period last year. Operating profit was GBP 10,605,000 as compared to GBP 9,512,000 for the same period last year. Profit before income tax was GBP 10,200,000 as compared to GBP 8,841,000 for the same period last year. Profit after income tax was GBP 8,326,000 as compared to GBP 7,091,000 for the same period last year. Basic and diluted earnings per share were 11 pence as compared to 9.4 pence for the same period last year.

In trading update on 10 October 2018, the company reiterated original target of exceeding GBP 50 million of total pre-tax profit for the year to 31 March 2019. However, the uncertainty arising from Brexit and indeed the wider political situation remains a concern across the sector making it difficult to accurately predict sales rates over the coming months. Individual sales already secured, combined with existing construction contracts for build to rent and subsidized affordable housing and new construction contracts that are expected to be exchanged before 31 March 2019, would amount to total profit before tax in excess of GBP 40 million. This provides with a strong base to work towards GBP 50 million target by securing further individual sales that will complete in the remainder of financial year.