House builders will be to the fore on Wednesday, with Telford Homes and Countryside Properties reporting.
Since the group’s last update in July, management will have been monitoring transaction and pricing activity in London ahead of its next planned development launch this Autumn, reckons Peel Hunt.
“Telford’s forward sales position provides plenty of visibility of future profitability. As last reported at £640mln, it represents over 50% of the expected revenues for the next three financial years. Opportunities for further sales to institutions for the Private Rented Sector continue to be explored to add to the group’s diverse customer mix,” the broker said.
While Telford reports interims, Countryside is updating for the whole of its financial year, with analysts having pencilled in a figure of £729mln for sales and £91mln for adjusted profit before tax.
Like Telford, the company has a focus on London and the south-east so with both companies attention will be focused on any commentary on how the housing markets are holding up in these areas since the Brexit vote, particularly at the higher end of the market.
Back in July, in its fiscal third quarter trading statement, Countryside said it was on track to meet full-year expectations, and while it did see a lull in visitor levels to new sites and a concomitant slide in sales reservations, these soon returned to more normal levels.
The private average selling price in the three months to the end of June was up 7% year-on-year to £348,000 from £325,000 the year before.
Announcements expected
Interims: Tissue Regenix Group PLC (LON:TRX), Telford Homes plc (LON:TEF),
Finals: Countryside Properties PLC (LON:CSP), Diurnal Group PLC (LON:DNL)
Trading statement: Marstons plc (LON:MARS)