Telford Homes quadruples profit

East London homebuilder Telford Homes said half year profit quadrupled after strong demand for inner London locations and it expects profit to grow significantly in 2013.

East London homebuilder Telford Homes said half year profit quadrupled after strong demand for inner London locations and it expects profit to grow significantly in 2013.

Pre-tax profit surged to £6.5m in the six months ended September 30th 2012 from £1.5m in the equivalent period a year earlier. Revenue increased to £78.3m from £58.6m. The group also reported a five-percentage point increase in its operating margin.

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