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Thu September 24 2020

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NHS uncertainty rocks Ashley House

26 Jul 11 Ashley House, specialist in the construction and provision of primary care health premises, made a pre-tax loss of £7.0m on gross revenue up 10% to £27.5m for the year ending 30 April 2011.

The result includes a provision of £8.9m against previously accrued income because of postponement of schemes already designed.

Ashley House has more than 20 schemes are waiting to be developed in the coming years. However, the flow of new schemes remains slow as a result of the difficulties facing NHS clients. This means that high-margin design fees are at relatively low levels. 

Chairman Sir William Wells told shareholders: "This has been a difficult and uncertain year for Ashley House. The NHS re-organisation is ongoing and in view of the continuing uncertainty your company is not expecting to grow in the short term.  However, we have taken the necessary steps to ensure that it is well positioned, in commercial and financial terms, to deliver growth in the longer term."

He added that as the likely outcome of the NHS reforms was not yet clear, Ashley House faces tough trading conditions for at least the next 18 to 24 months.

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