In the year to 31 March 2014 Telford Homes’ pre-tax profit more than doubled to £19.2m (2013: £9.0m).
Telford Homes focuses on building apartment blocks in the less expensive parts of inner London. In the last four weeks alone it has sold more than £70m of flats at Stratford Central, E15.
Revenue for the last year was slightly down at £140.8m (2013: £142.4m). However, the company’s development pipeline has increased to £875m of future revenue, up 40% on a year ago.
Chief executive Jon Di-Stefano said that he expected annual pre-tax profits to keep climbing over the next four years and reach £40m in the year to 31 March 2018, “positioning Telford Homes as one of the most significant developers in London” he said.