City sources have suggested tgo us that OFEX traded residential home builder Wren Homes has traded exceptionally well in the current year. Pre-tax profit estimates of around £2million for the year to 31st July 2006 are thought to be more than achievable, with the prospects for 2007 thought to be even better. Meanwhile, the company is believed to have got the go ahead for a further 33 units. With the shares trading on a prospective current year earnings multiple of 5, falling to sub 4 for 2007, such news cannot be discounted.
*Luke owns shares in Wren Homes
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