Paragon Treasury PLC Annual Financial Report (3210B)

TIDM60VT

RNS Number : 3210B

Paragon Treasury PLC

21 September 2018

2017/18 financial statements

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 2018. These financial statements reflect the first year of trading for PA, which was formed on 13 April 2017 following the amalgamation of Paragon Community Housing Limited ('PCH'), asra Housing Association Limited ('AHA') and Leicester Housing Association Limited ('LHA').

PA is pleased to confirm that its results for 2017/18 were in line with the Board's financial plans. Key figures are as follows; the 2016/17 combined results for PCH, AHA and LHA are stated for comparative purposes and the results represent group-wide performance:

 
                                               PA    Comparative 
                                              17/18     16/17 
Turnover GBPm                                 164.7        163.4 
Operating surplus GBPm                         65.1         57.2 
Operating margin                                40%          35% 
Net surplus GBPm                               32.9         26.6 
Total assets less current liabilities GBPm    1,671        1,708 
Cash reserves GBPm                             22.6         86.8 
Financial indebtedness GBPm                     691          741 
Properties owned / managed                   23,505       23,968 
 

These results evidence a strong and resilient financial position which allows 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 - by 2022.

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. Please contact our Finance Director Simon Hatchman for further information.

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September 21, 2018 07:00 ET (11:00 GMT)