DJ Ashley House PLC Trading Update
RNS Number : 5789E
Ashley House PLC
05 July 2019
5(th) July 2019
Ashley House plc
("Ashley House" or the "Company")
Further to the Trading Update of 25(th) June, the Company advises that due to delays in the final legal processes, the three Morgan Ashley extra care schemes mentioned in that update did not reach financial close prior to the end of the Company's financial period to 30(th) June 2019. As a result the related profit from these schemes will fall into the year to 30(th) June 2020.
As reported this means that whilst the Company is likely to be profitable in the second part of the fourteen month period to 30(th) June 2019, it will show a loss for the full period. However, the Company is pleased to advise that the first of the three extra care schemes is all agreed, awaiting signature from the parties. In addition, for the further two schemes (one transaction) the complex legal documentation is almost agreed and the schemes are expected to reach financial close in the near future. Together, the Directors believe that these schemes will provide a strong start to the year to 30(th) June 2020.
Enquiries: Ashley House plc 01628 600 340 Antony Walters Jonathan Holmes James Hathaway WH Ireland Ltd 0207 220 1666 (Nominated Adviser and broker to Ashley House plc) Adrian Hadden James Sinclair-Ford Matthew Chan
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(END) Dow Jones Newswires
July 05, 2019 02:00 ET (06:00 GMT)