Telford Homes profit dips, build to rent focus hits margins

(Reuters) - Telford Homes Plc profits dropped nearly 13% last year as it sought to navigate a Brexit-dampened London housing market with an increased focus on low-risk build to rent properties, annual results showed on Wednesday.Shares of the company fell 4.3% to 290 pence in early trading, with at least one broker raising concerns over the impact on the company's gross margins of the shift away from a straight build and sell strategy.The company's earnings of 40.1 million pounds were in line..