25th Jun 2019 10:15
(Alliance News) - Shares dropped in Ashley House PLC on Tuesday as it said there is a chance the company could report a loss for its recently ended financial period and fall short of market expectations.
Shares in the health and social care services provider were 13% lower at 8.50 pence on Tuesday.
Ashley House said in May that its joint venture Morgan Ashley is working on three extra care scheme on which it is yet to achieve financial close. Although Ashley House expects the scheme to reach financial close, the timing is uncertain and could be in July.
Although the timing will not affect overall medium-term profitability, it will affect the profit figure recorded in the current and next financial periods.
Should the schemes not close before the end of June, Ashley House will post a loss for the 14 months to the end of June, leading to the company to not meet market expectations.
Related Shares:
ASH.L