Turnover also down at housebuilder
A large increase in building safety costs widened losses at Telford Homes last year.
The CBRE-owned housebuilder revealed a pre-tax loss of £165m, up from the £43m loss it posted last time, for the year to December 2025.
The firm took a £123m hit from building safety costs in the year, a significant increase from the £24.5m hit it sustained the year prior.
The firm said that, ignoring its building safety costs, it would have made a pre-tax loss of £41.9m, which would still have been a deterioration on the equivalent figure of £19.2m the year prior.
The firm’s building safety provision at 31 December 2025 stood at £229m, up from £129m.
“The increase in the provision during the year is due to a combination of fire engineer assessments, updated surveys, design evolution, regulatory feedback, the addition of internal fire containment work and Incremental direct program costs,” it said.
Turnover was £131m in the period, down from £192m in 2024.
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