CHAIRMAN’S STATEMENT

I am very pleased to present the Report and Accounts for the Group for the year ended 31 March 2013.

Business Environment

Trafalgar New Homes continues to specialise in small developments in Kent, Surrey, Sussex and the M25 ring south of London.  The Board believes that this strategy positions the Group in a niche market place, between local builders and developers and larger house building companies in the high demand area of the South East.

As a Board, we are optimistic about the future prospects of the residential property market as activity has started to increase which we believe will benefit the Group over the next coming year.  Various campaigns by the Government as well as an overall improvement in the residential property market are encouraging.

Financials

The period under review saw Group turnover at £2,205,786 (2012: £2,346,404 in a 16 month period), with a profit before tax up 196% to £617,976 (2012: £208,619).  The underlying operating profit for the year was £559,732 (16 months to 31 March 2012: £394,999).

Land has been acquired to enable our development programme to continue profitably for 2014 and 2015.

Outlook

We have worked hard to put Trafalgar New Homes in a strong position as we aim to take advantage of an improvement in the sector.  

On 16 July 2013, we were delighted to announce our move from ISDX to AIM, something the Board felt was the next logical step for the Group seeking fast expansion and growth.  The Directors believe that the AIM market will assist the Group in attracting new investors, improving liquidity in its shares and raising additional capital when required, as well as enhancing the Group’s overall profile and helping to attract future acquisition opportunities moving forward.

I would like to take this opportunity to thank the staff and Board on their achievements, which have now laid the foundation for substantial future growth of Trafalgar New Homes.  We have established a strong team, which is essential for our continued growth and I look forward to working together over the next year.

James Dubois

Chairman

21 August 2013