Ashley House warns on profits as revenues plunge

Writer, Stock Market Wire
Thursday, January 31, 2019 - 10:23

Care property partner Ashley House warned Thursday it expected profits to fall short of current market expectations as first-half revenues fell sharply.

For the six months ended 31 October, losses before tax narrowed to £1.709m from £1.734m a year earlier.

The company said it expected to become profitable for the full 14 month period to 30 June 2019, but added that uncertainty on timings of some scheme closures might result in revenue slipping into the next financial year.

Revenue decreased to £4.766m from £7.004m as contributions from Morgan Ashley were now recognised within 'Share of results of joint ventures' rather than revenue, the company said.

Net debt significantly fell to £1.490m from £3.512m a year earlier.

At 10:23am: (LON:ASH) Ashley House PLC share price was -2.7p at 11.1p

Related content

Strong quarter for Ashmore with $5bn of net inflows

Emerging markets asset manager Ashmore said assets under management increased by 11.2% to $76.7bn in the first three months of 2019. It also saw net...

Tue, 16/04/2019 - 07:22

Ashmore AuM grows modestly amid 'volatile' market conditions

Emerging markets specialist Ashmore Group said Friday assets under management grew modestly owing to increased net inflows, though volatile markets and a stronger dollar hurt...

Fri, 12/10/2018 - 07:44

Ashley House reports adjusted pre-tax loss

Ashley House, the health and community care property partner, announced an adjusted loss before taxation of £1.8m for the six months ended 31 October 2017....

Wed, 31/01/2018 - 09:34

All resolutions passed at AGM of Ashley House

Ashley House has confirmed that all resolutions were passed by shareholders at today's Annual General Meeting.

At 1:09pm: (LON:ASH) Ashley House PLC share price was...

Wed, 25/10/2017 - 13:09

Ashley House pre-tax profits fall

Ashley House's adjusted pre-tax profits before depreciation, impairment and other operating income fell to £53,000 in the year to the end of April - down...

Mon, 02/10/2017 - 07:44