February 28, 2019 / 7:44 AM / 6 months ago

Telford Homes cuts full-year profit forecast

Feb 28 (Reuters) - Telford Homes cut its full-year profit forecast and said it would focus on building houses for rent.

Profit before tax is expected to be about 40 million pounds ($53.15 million) in the year ending March 31, lower than its earlier forecast of more than 50 million pounds, as a subdued London market and more incentives and discounts pressured individual sale margins. ($1 = 0.7526 pounds) (Reporting by Arathy S Nair in Bengaluru; Editing by Anil D’Silva)

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