Ashley House (LON:ASH) - New strategy supports outlook
Jul 27th 2012 - Edison Investment Research today published a report on Ashley House (ASH.L, LSE:ASH, LON:ASH) entitled "New Strategy Supports Outlook". In summary, the report says:
The results show the new strategy designed to access a broader client base than pure NHS/primary care is delivering results, with a 22% contribution to FY12 revenues (FY11: 2%) from new sources such as extra-care social housing. This helped offset delays within the core pipeline, new primary care facilities commissioned by NHS/primary care trust clients. The latter should recover as healthcare reform is implemented, but the group has stated that “activity levels are likely to take time to return to previous levels” and flagged lower than expected FY12 results in pre-close updates. FY13 is also likely to be tough, but forecasts are based on contracted work and anticipated FY14 pick-up as new business comes through, even if core primary care...
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