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Telford Homes posts profit leap, says lack of London housing will drive growth

Published 01/06/2016, 07:26
Updated 01/06/2016, 07:30
© Reuters.  Telford Homes posts profit leap, says lack of London housing will drive growth

LONDON (Reuters) - London-focused Telford Homes (L:TELF) posted a 28 percent jump in full-year profit on Wednesday and said that a lack of sufficient housing to keep up with demand in the capital will drive future growth.

The British housebuilder reported pretax profit of 32.2 million pounds ($47 million) in the 12 months to March 31.

"The Board believes that this undeniable structural factor will underpin the Group's future growth," CEO Jon Di-Stefano said of the housing supply situation in London.

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