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Ashley House may not meet market expectations amid 'uncertainties' at JV

By Iain Gilbert

Date: Tuesday 25 Jun 2019

Ashley House may not meet market expectations amid 'uncertainties' at JV

(Sharecast News) - Health and community care business Ashley House warned investors on Tuesday that "some uncertainties" remained regarding its final results, meaning that it might not meet market expectations.
Ashley House said its concerns were predominantly centred around the timing of the financial closure of three of its schemes.

As the AIM-listed firm had advised back in May, its 50% joint venture Morgan Ashley had three extra care schemes on which it was working to achieve financial close.

Ashley House "fully expects" these schemes to reach financial close, but the precise timing was said to currently be uncertain and may fall into July 2019. Although that would not affect the overall profit achieved on those schemes, it would affect the timing of the profit.

Should these schemes not close prior to 30 June, the company said it was still likely to be profitable in the second part of the year, but will show a loss for the fourteen-month period - resulting in Ashley House not meeting market expectations.

As of 0840 BST, Ashley House shares had slumped 12.82% to 8.50p.

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