News blog
Trafalgar New Homes
- BY: Andrew Hore |
- POSTED: 01/04/2014 |
Housebuilder Trafalgar New Homes says that its 2013-14 figures will be below expectations because it has not sold all the homes at the Oakhurst Park Gardens development in Kent and the expected dividend will not be paid.
Trafalgar has obtained revised planning permission for Oakhurst Park Gardens which will enable the 12 homes to have bigger gardens. This held up sales but there were prospective purchasers for four homes and an investor willing to buy the other eight homes. The four homes have been sold but Trafalgar decided not to sell to the investor. This means that four sales will be recognised in the year to March 2014.
Further planning permissions are expected to be granted this year.
At 3.13p a share, down 0.25p, Trafalgar is valued at £7.15m.
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