Year-end trading update

RNS Number : 0957B

Trafalgar New Homes PLC

31 March 2017

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

31 March 2017

Trafalgar New Homes plc

(the "Company")

Year-end trading update

Trafalgar New Homes plc (AIM: TRAF), the residential property developer operating in southeast England, today provides an update on trading for the financial year ending 31 March 2017 and further to its announcement on 22 February 2017.

First marketing commenced for the developments at Burnside, Tunbridge Wells, comprising six luxury flats, and Edenbridge, Kent, comprising three two-bed / two-bath terraced houses, towards the end of February 2017 and the Company has received a number of enquiries on the units. 

In line with management's expectations as first marketing began at the end of February, the Company has not yet completed the sale of any units at these sites prior to its financial year end of 31 March 2017 and therefore the Company does not expect to record revenues for the second half of the financial year to 31 March 2017.  However, the Board is confident of realising sales on these developments during 2017.  Revenues from the sales of units at these two sites is therefore expected to contribute to the financial year ending 31 March 2018. 

The Company also anticipates that sales from its other developments at Hildenborough, Kent, comprising two executive style detached houses, Speldhurst, Tunbridge Wells, comprising one large detached house, and Sheerness, Kent, comprising six terraced houses, which are due for completion from May 2017 onwards, will also contribute to revenues for the financial year ending 31 March 2018.

The Company expects to announce its audited financial results for the year to 31 March 2017 in the third quarter of this year.

Enquiries:

Trafalgar New Homes Plc Christopher Johnson	[phone]
Allenby Capital Ltd - Nominated Adviser and Broker Jeremy Porter/James Reeve	[phone]
Yellow Jersey PR Limited Felicity Winkles / Alistair de Kare-Silver	[phone]

 

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