19 Oct 2015 07:00
19 October 2015
Inland Homes plc
('Inland Homes', 'Inland', the 'Group' or the 'Company')
Results Update
Further to the announcement on 30 September 2015, having considered the application of IFRS 10 the Board has concluded that the Group should consolidate the results and financial position of Drayton Garden Village Limited ("DGVL"). The preparation of these consolidated accounts and the respective audit is taking longer than initially anticipated due to the need to adjust for different income recognition policies and financial year ends. Accordingly the Group will release the results as soon as this process is completed.
The Board confirms that the consolidation of DGVL does not affect its expectation, as first advised on 17 June 2015, that the Group's profit before tax for the year ended 30 June 2015 will be significantly ahead of the then consensus forecast in the market of £12.7m.
Enquiries: | ||
www.inlandplc.com AIM: Ticker: INL
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Inland Homes plc | Stifel Nicolaus Europe Limited | Blytheweigh |
Stephen Wicks, Chief Executive | Nominated Adviser & Broker | IR & Media Relations |
Nishith Malde, Finance Director Paul Brett, Land Director
| Corporate Finance: David Arch and Roger Clarke
| Tim Blythe: Wendy Haowei Fergus Lane: or |
Tel: +44 (0) 1494 762450 | Tel: +44 (0) 20 7710 7600 | Tel: +44 (0)20 7138 3204 |
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Notes to Editors:
Inland Homes identifies brownfield land in the South and South-East of England principally for residentially led development schemes. The business then enhances the land value by obtaining planning permission, before building houses for private sale or selling consented land onto other developers.