19 October 2011 – trading update

Residential property developer Telford, which specialises in East London properties, has updated on trading for the six months to September.  The period saw strong sales, with a 30% increase in the number of contracts exchanged with demand from both UK and overseas buyers. As a result full year results to 31 March 2012 are expected to be in line with expectations whilst the group has maintained a healthy balance sheet.  Following the dip in the share price we maintain our recommendation of BUY.