Paragon Treasury PLC 2018/19 Financial Statements (1986N)

TIDM60VT

RNS Number : 1986N

Paragon Treasury PLC

25 September 2019

2018/19 financial statements and supplementary information for investors

Paragon Treasury Plc's parent company, Paragon Asra Housing Limited ('PA'), announces the release of its audited financial statements for the financial year ended 31 March 2019.

PA is pleased to confirm that its results for the year were in line with the Board's financial plans, confirming continued strong performance. Key Group figures are as follows:

 
                                             2018/19  2017/18 
Turnover GBPm                                    160      165 
Of which shared ownership sales                   11       15 
Operating surplus GBPm                            62       65 
Operating margin (overall)                       39%      40% 
Operating margin (social housing lettings)       33%      36% 
Operating margin (shared ownership sales)        33%      40% 
Net surplus before tax GBPm                       39       33 
Total assets less current liabilities GBPm     1,714    1,671 
Cash reserves GBPm                                50       23 
Financial indebtedness GBPm                      712      691 
Properties owned / managed                    23,059   23,505 
 

These results represent a stable and resilient financial position, allowing the Board to make appropriate strategic decisions in pursuit of PA's vision - which is to become widely recognised as a social enterprise with a reputation for providing quality homes and services.

The full audited financial statements for PA are available from the Investor Relations section of our website: www.pahousing.co.uk/about-us/investor-relations.

The Investor Relations webpage also contains an information pack to update investors on various aspects of PA's performance and plans. This includes an addendum which covers the following in response to recent investor enquiries:

   --    new build development programme 
   --    property sales performance 
   --    flood risk 
   --    high rise cladding 
   --    customer satisfaction 
   --    business plan stress testing 

Please contact our Finance Director Simon Hatchman for further information.

email [e-mail]

Direct tel [phone]

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September 25, 2019 10:00 ET (14:00 GMT)