ASH.L Regulatory News (ASH)

10 Oct 2007 07:01

Ashley House PLC10 October 2007 Ashley House plc Trading Update Ashley House plc ("AH" or the "Company"), the primary care infrastructurespecialist, is pleased to provide an update on current trading and progress incertain key business areas. NHS LIFT AH's design team has been granted planning consent for its first 3 NHS LIFTschemes. These schemes, with a total design & construction value ofapproximately £7m, are being delivered through the Strategic Alliance enteredinto with Babcock & Brown in December 2006. In addition to the initial 12 schemes identified when the Strategic Alliance wassigned, AH's team is now working on a further 9 schemes with Babcock & Brownwhich have a total design & construction value in excess of £50m. Health Parks Planning consent for the Company's first Health Park in Scarborough has beengranted. This 3.7 acre Health Park will include: • a Primary Care centre and Pharmacy of approx. 2,000 sq m; • a 93 bed care home for the elderly; • 14 x 2-bed sheltered housing units; and • a 2,500 sq m local hospital serving both NHS and private patients.. The total completed development value of the scheme, which will be built overthe next 3 years, is approximately £25m. AH is currently in discussion with apotential joint venture partner for this project. Clinical Services - Pharmacies AH has opened its first pharmacy in partnership with a national wholesalepharmacy and retail group at a GP surgery which was designed and delivered byAH. The intention is to roll out this model across the country so that AH canparticipate in the profits from the pharmacies it builds as part of GPcomplexes, without the overhead cost and risk of being a pharmacy operator. Lord Darzi's Interim Report - "Our NHS Our Future" The recently published report by Lord Darzi, Parliamentary Under-Secretary,Department of Health, maintains the emphasis aimed at treating more patients atthe Primary Care level and identifies the need for "...at least 100 new GPpractices..." and "...150 new GP led health centres in easily accessiblelocations and offering a range of services to all members of the localpopulation." AH, with its substantial experience of designing and delivering Primary CareInfrastructure, is well positioned to play a part in the delivery of theseelements of this new report's recommendations. The150 proposed new "polyclinics"referred to in the report could have much in common with AH's recently completedPrimary Care facility in Byker in Newcastle upon Tyne. This new £10m schemeincorporates 2 GP surgeries, an urgent care centre, community mental health,physiotherapy, pain management, dental surgery and training, pharmacy andopticians. It is part owned by Newcastle PCT and part owned by our sisterproperty company AH Medical Properties plc and is therefore managed by AH. Outlook The market outlook is positive as set out above and anticipated profit remain inline with expectations for the year to 30th April 2008. The benefit of theprogress made in the new business areas highlighted above, will be most inevidence in the following financial year to 30th April 09, when the income fromthe Babcock & Brown strategic alliance in particular is projected to comethrough in earnest. This information is provided by RNS The company news service from the London Stock Exchange