Ashley House continues to seek funding to deliver on opportunities in pipeline

(Sharecast News) - Health and housing property outfit Ashley House said on Friday that it was continuing to seek financing to ensure it had available resources to sustainably deliver on opportunities in its pipeline.
Ashley House said since the sale of its interest in extra care developer Morgan Ashley, it has continued its revised strategy of focussing on developing property schemes in the affordable housing market and health and wellbeing sector.

Although the AIM-listed group highlighted that good progress had been made in regards to the affordable housing strategy, with the affordable housing pipeline being "some months from contract", Ashley House said it was still looking for funds to cover costs and meet its overall working capital requirements.

The company added that following the change of its financial year-end to 31 October, results for the eighteen-month period ending October 2019 would show a loss for the period and would also incorporate all of the activity related to the disposal of Morgan Ashley.

"The board will continue to update the market as to progress on its revised strategy and any financing developments," said Ashley House.

As of 1010 GMT, Ashley House shares were down 6.42% at 2.48p.