Ashley House plc Preliminary results

Ashley House plc today announces its preliminary results for the year ended 30 April 2018.

Financial highlights:

  • Significant increase in profits following strategic developments
    • Revenues of :£18,474,000 (2017: :£18,565,000)
    • Gross profit increased by 31% to :£4,740,000 (2017: :£3,631,000)
    • Profit before tax increased to :£1,752,000 (2017: :£67,000)
  • Improving cash performance
    • Cash generated from operations of :£1,510,000 (2017: :£996,000)
    • Net debt reduced to :£1,492,000 (2017: :£2,547,000)
    • Individual related party debt repaid; Invescare loan reduced

Operating highlights:

  • Key joint venture signed with Morgan Sindall Investments
    • 50:50 venture to deliver extra care housing, care homes and supported living housing
    • Both partners bring significant skills, experience and existing partnerships to the venture
    • First scheme at Ryde, Isle of Wight, already on site
  • Establishment and growth of in-house modular construction capability
    • Establishment and acceleration of modular capability in the year
    • Supply chain benefits as well as access to an extended range of sectors
    • 40 bed extra care scheme contracted along with a strong pipeline of schemes across housing, leisure, education and retail
  • Pipeline numbers reflect the two business segments, housing & health and modular
    • Housing & health shows 22 schemes with a development value of :£206.4m
    • Modular pipeline which contains 11 developments with a total value of :£18.5m


Read the full notice here