Share Name Share Symbol Market Type Share ISIN Share Description
Ashley House Plc LSE:ASH London Ordinary Share GB00B1KKCZ55 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 2.30 2.20 2.40 2.30 2.30 2.30 0.00 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 18.5 1.8 2.9 0.8 1

Ashley House Share Discussion Threads

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DateSubjectAuthorDiscuss
10/3/2018
19:24
Managing expectations is not necessarily a bad thing in my opinion. Potential for under promise and over deliver. MS partnership provides a platform. Still got to execute though.
rp19
10/3/2018
19:03
Yes historically revenues have been lumpy not helped by the fact they are at the mercy of Govt decision making (or lack of). With the LHA rent cap now lifted and increased impetus from Morgan Sindall I am hopeful that revenues / projects going forward will be somewhat smoother.
norbert colon
10/3/2018
17:58
The problem here is that their projects are always delayed.
topvest
10/3/2018
15:20
To illustrate the point, WHI last year penned a note on Sirius Minerals , then in the high teens with a target of 60p. They offered a target price anticipating a more than 100% increase increase in BKY, 440p on JOG against the current 180p and so on. Of course, these targets are rarely met as I explained and the analysis that accompanies them is in my experience plainly jaundiced. I just point out that I found it rather odd that in the case of ASH not only was their tone and language more reserved but so too was the price projection.
yasx
10/3/2018
15:10
Microscope, I confine the bulk of my investments to largecaps and other instruments. However, I do hold a significant number of smallcaps which form a fraction of the overall portfolio. I rarely if ever pay any attention to broker notes on largecaps other than using them as a contrarian signal. BUt, in my considerable experience, house brokers in tiddlers tend to have targets multiples of the existing price and glowing reports (WHI no exception as you will note from their coverage of a plethora of other plays in the tiddler space). These broker targets are rarely if ever met, but, my point was that if even the company broker is not particularly ebullient, and the wife of the non exec is periodically reducing, perhaps there is some sort of impediment going forward. We will see. Like I earlier pointed out, am sticking with the stake I currently have.
yasx
10/3/2018
14:00
Not to me, not atall. 50% is hardly to be sniffed at either. The 'risk' would be as ever the same, getting new deals. Same for most companies i'd say in all walks of business life. And £4 million recently agreed from MS in my view has removed the worst risks completely, while Scarborough was already known about so hardly a need for them to change the 50% gain target. If only all my shares had 50% broker target upside, perhaps you have holdings where the brokers are predicting even bigger gains?
microscope
10/3/2018
13:33
WH Ireland are Company broker and their comments are not particularly encouraging. I ordinarily ignore broker comments since they are almost invariably useless, but when their own broker refers to this being 'not without risk' and with a target price of a mere 15p, it is not very optimistic (and their own broker must by definition be as optimistic as possible). The purchase of a paltry 31,000 shares the other day does not inspire much confidence either. I continue to hold since on the numbers it looks rather cheap, but the comment from WHI does make one wonder if there is something amiss.
yasx
09/3/2018
13:54
WH Ireland comment on Scarborough: Ashley House (ASH) – Corporate – Financial close of Scarborough Extra Care scheme Market Cap £5.9m Price 9.85p Ashley House has this morning announced that it has reached financial close on its Extra Care housing development in Scarborough. The facility comprises 63 apartments plus communal areas and will be owned and managed by Home Group, with Ashley House and Home Group working in conjunction with North Yorkshire County Council and Scarborough Borough Council to deliver the scheme. The development is being built on a site already owned by Ashley House with residual plots allocated for a housing development and a health scheme expected in due course. The project has a gross development value of £10m with construction due to commence shortly and completion expected Spring 2019. This was one of the two schemes previously identified that sits outside of the Morgan Ashley JV and an initial payment has been made to Ashley House on reaching financial close. We view this as positive news for Ashley House, not least given the fact that this is the Group’s first scheme to reach financial close since the Government relaxed its plans to cap housing benefit to the Local Housing Allowance. On the back of the announcement, we leave our 2-year forecasts unchanged (WHI FY 2018E PBT £1.8m/EPS 3.0p, FY 2019E £2.0m/3.5p). Whilst not without risk, with the shares trading on a lowly FY 2018E PER of 3.2x, we see scope for multiples to expand as management executes on its strategy. After a number of challenging years, the future now looks much brighter for Ashley House given the pent up market demand and new found strength through the tie up with Morgan Sindall, which should not only enable the Group to deliver on its existing pipeline but also attract new schemes. Our estimate of fair value for the shares remains unchanged at 15p.
18bt
06/3/2018
10:28
what do pi's here make of the £10m development value on this asset?
euclid5
05/3/2018
19:17
Another piece of the jigsaw. Good stuff :)
microscope
05/3/2018
11:29
This is what AR says about loan on Scarborough: "The Lloyds Bank borrowing on the land at Scarborough is held on a six year loan, which is reducing at the rate of £17,500 per month, although the land will be used in a forthcoming extra care housing scheme at which point some of the loan may be repaid." Loan was £527k at 31/4/17, so presumably only £350k or so now.
18bt
05/3/2018
07:47
Better late than never. Took a while didn't it being about 2 months later than planned? Good news though.
topvest
05/3/2018
07:27
V positive on Scarborough. Not sure how much profit this releases on the Scarborough land. Think a loan is still secured on it, so presumably being paid off.
18bt
26/2/2018
22:49
281k buy delayed from Friday morning the cheeky market makers !
dave4545
23/2/2018
12:01
Holding Rns Landsdown up from 13.75% to 14.46%. Now is that because a lot of pi's have bought Ash over the last few months or is it down to one bigger holder adding stock ?
dave4545
22/2/2018
22:43
Nice to see a chunky late reported buy of 160,000 at 10.26p. Hopefully a sign of better things to come.
microscope
22/2/2018
14:08
Yes good spot re MS guys, well done Spurs with your buy too! I agree that MS are almost certain to be looking at Ashley House. If they like how the 50/50 is going, then I would not be atall surprised if they put in a bid for the company at some point, as Irene suggests, possibly as early as the next few months.
microscope
22/2/2018
10:44
Good results from MS... I was looking for any impact from CLLN collapse, which could have had an impact going forward... MS state: "The company also addressed the collapse of Carillion, with which it was working with on a number of contracts. In its report the company stated that it had reviewed the projects and did not expect the projects in question to have a negative impact the company’s finances." https://www.constructionnews.co.uk/companies/contractors/morgan-sindall/morgan-sindall-construction-profit-doubles-in-2017/10028415.article
sikhthetech
22/2/2018
10:34
Yes, that was an interesting read and MGNS appearing to contradict the worries about housing slowdown - part of that concerns the likely growth of the care/supported sector - presumably why they've got more involved.
yump
22/2/2018
09:33
If the joint venture goes well I wouldn't be surprised if MGNS makes an offer that can't be refused.
irenekent
22/2/2018
07:51
From what at first glance appear to be very good results from MGNS results this morninghttps://www.investegate.co.uk/morgan-sindall-grp--mgns-/rns/final-results/201802220700065876F/"During the year, significant strategic progress was made in widening the range of Investments' partners. Examples include the acquisition of a 50% stake in a joint venture with Ashley House plc, to focus on development activity in the extra care sector and into which Ashley House transferred its pipeline of extra care and supported living schemes, with a development value of £200m to the joint venture".
norbert colon
21/2/2018
19:26
I was sorely tempted to add too this afternoon. This price could look very cheap in a few months
dibs61
21/2/2018
15:53
Well fwiw have picked up a few more today. At anything near 10p I simply believe the risk reward is hugely favourable for buyers
microscope
21/2/2018
15:16
That's a bit different from 'traditional' value stocks then which are usually large and aren't so volatile. ie. this is more about spotting growth stocks that have floundered but still have the makings of a good business, which at some point produces a turning point. imo its all about assessing and knowing the business, otherwise there are just too many stocks that appear to have failed and which will actually go nowhere because the business model is broken in the first place.
yump
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