1 May 2020 07:00
HML Holdings plc
("HML" or the "Group")
Trading Update and Notice of Results
HML Holdings plc (AIM: HMLH), a leading provider of property management, insurance and ancillary services to residential property blocks, announces that the board anticipates being able to report revenue in line with management's expectations, with profits slightly behind management's expectations for the 12 month period ended 31 March 2020.
The board looks forward to releasing results in relation to this period on 1 July 2020.
COVID-19 update
Following the UK Government lock down HML successfully moved 95% of its service delivery into an environment of home working. Whilst it presented the operation with some initial challenges these have largely been overcome and we do not see any long-term impact on the delivery of our service to our geographically spread client base.
We also do not see any long-term impact on the Group's wider strategic plan other than to curb any HML acquisition activity in the immediate future. In the short term, a reduction in a number of the ancillary revenue streams will impact the Group's financial performance, but it is expected that this will not have lasting economic consequences once the Government starts to open up the economy.
For further information, please contact:
www.hmlgroup.com
HML Holdings plc Tel: 020 8439 8529
Alec Guthrie, Chief Executive Officer
James Howgego, Chief Financial Officer
finnCap Tel: 020 7220 0500
Ed Frisby / Giles Rolls - corporate finance
Camille Gochez - ECM
Tavistock Communications Group Tel: 020 7920 3150
James Verstringhe / Jeremy Carey
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.