Telford Homes posts profit leap, says lack of London housing will drive growth
LONDON (Reuters) - London-focused Telford Homes (TELF.L) 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.
(Reporting by Costas Pitas; Editing by David Goodman)