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Telford Homes fiscal H2 profit climbs 36.7% YOY

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Telford Homes fiscal H2 profit climbs 36.7% YOY

Telford Homes PLC said its normalized net income for the fiscal second half ended March 31 was 16 Great British pence per share, an increase of 36.2% from 12 pence per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £9.8 million, an increase of 36.7% from £7.2 million in the year-earlier period.

Total revenue rose on an annual basis to £98.2 million from £28.7 million, and total operating expenses grew on an annual basis to £84.9 million from £31.3 million.

Reported net income grew 37.4% on an annual basis to £12.2 million, or 20 pence per share, from £8.9 million, or 15 pence per share.

For the year, the company's normalized net income totaled 26 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 32 pence.

EPS rose 25.2% from 21 pence in the prior year.

Normalized net income was £15.7 million, a gain of 30.7% from £12.0 million in the prior year.

Full-year total revenue rose 49.4% from the prior-year period to £140.4 million from £94.0 million, and total operating expenses rose 42.2% year over year to £127.5 million from £89.6 million.

The company said reported net income increased 31.9% on an annual basis to £19.7 million, or 33 pence per share, in the full year, from £14.9 million, or 26 pence per share.