Preliminary Results For The Year End 30 April 2017

Ashley House plc, the health and community care property partner today announces its preliminary results for the year ended 30 April 2017.


Financial highlights:

  • Group remained profitable but behind last year
    • Revenues reduced by 10% to £18,565,000 (2016: £20,737,000)
    • Gross profit of £3,631,000 (2016: £4,793,000)
    • Adjusted PBT (profit before tax, depreciation, impairment and other operating income) of £53,000 (2016: £1,160,000)
    • Profit before tax of £67,000 (2016: £241,000)
  • Continuing management of overheads and debt whilst strategic acquisition completed
    • Administrative expenses reduced by 7% to £3,008,000 (2016: £3,226,000)
    • Cash generated from operations of £996,000 (2016: £559,000)
    • Net debt increased to £2,547,000 (2016: £1,987,000) partly to finance acquisition


Operating highlights:

  • Housing pipeline continues to build, although delivery still held up by Government
    • Completion of two extra care housing schemes, in Harwich and Walton-on-the-Naze
    • Pipeline of 23 appointed schemes with £197.9m of revenue anticipated to be recognised 
    • Almost two year delay to extra care housing pipeline as Government benefit policy on elderly and vulnerable people continues to be reassessed. The Company however now believes this may shortly be unlocked
  • Activity continues in Health market
    • Pipeline of 5 schemes, on site (3) or appointed (2) with £14.1m of revenue anticipated to be recognised
    • Three health developments currently on site
  • Strategic capability enhanced through acquisition of off-site manufacturing business
    • Through F1 Modular, the Group now has off-site manufacturing capability
    • The acquisition provides supply chain benefits as well as access to an extended range of sectors
    • Two modular social housing schemes currently on site
    • Growing pipeline of schemes across housing, education and retail


Read the full notice here