Wheatley Group Capital PLC Mid-year Business Update (5130U)

TIDM60RZ

RNS Number : 5130U

Wheatley Group Capital PLC

25 November 2019

Wheatley Group Capital PLC

Wheatley Housing Group announces strong mid-year results and tenant support for constitutional partnership with Dumfries & Galloway Housing Partnership

Wheatley Housing Group today announced its trading results for the six months to 30 September 2019. Turnover was GBP172.4m, up from GBP147.8m for the same period the year before. An operating surplus of GBP49.9m represented an operating margin of 29%. Excluding the effect of grant income for new build homes, surplus before tax was GBP3.6m higher than budget.

The Group's Mid-Year Business Update can be accessed here:

https://www.wheatley-group.com/__data/assets/pdf_file/0035/87677/Mid-year-business-update-2019.pdf

The Group is also in discussions with Dumfries & Galloway Housing Partnership ("DGHP"), a Registered Social Landlord with approximately 10,300 properties in the south-west of Scotland, for DGHP to join the Group in a constitutional partnership. Following a ballot of DGHP's tenants, where a resounding 95.5% were in favour of the proposals on a 75.2% turnout, an Extraordinary General Meeting of its members will be held on 12th December 2019 for final approval to enter into the partnership.

Note that the forecasts set out in the Wheatley Group's Mid-Year Business Update do not include the potential impact of DGHP joining the Group.

For further information, please contact:

Wheatley Group Capital plc

Steven Henderson

Group Director of Finance

Wheatley House

25 Cochrane Street

Glasgow G1 1HL

Telephone : [phone]

Fax : [phone]

Email : [e-mail]

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November 25, 2019 07:03 ET (12:03 GMT)