Paragon Treasury PLC Annual Financial Report (0973S)

TIDM60VT

RNS Number : 0973S

Paragon Treasury PLC

28 September 2017

2016/17 financial statements

Paragon Treasury Plc's parent company, Paragon Asra Housing Limited ('PA Housing'), announces the release of its audited financial statements for the financial year ended 31 March 2017. These are the final financial statements released by the two entities which amalgamated on 13 April 2017 to form PA Housing, namely Paragon Community Housing Limited ('PCHL') and asra Housing Group Limited ('AGL').

PA Housing is pleased to confirm that both organisations delivered strong results for the 2016/17 financial year, with key figures as follows:

 
                              PCHL     AGL    Combined 
---------------------------  ------  -------  -------- 
 Turnover GBPm                 71.8     90.0     161.8 
---------------------------  ------  -------  -------- 
 Operating surplus GBPm        28.2     30.1      58.3 
---------------------------  ------  -------  -------- 
 Operating margin               39%      33%       36% 
---------------------------  ------  -------  -------- 
 Net surplus GBPm              20.6      5.2      25.8 
---------------------------  ------  -------  -------- 
 Total assets less current 
  liabilities GBPm            748.5    959.6   1,708.1 
---------------------------  ------  -------  -------- 
 Cash reserves GBPm            59.9     26.9      86.8 
---------------------------  ------  -------  -------- 
 Financial indebtedness 
  GBPm                        354.0    396.0     750.0 
---------------------------  ------  -------  -------- 
 Properties owned / 
  managed                     9,050   14,543    23,593 
---------------------------  ------  -------  --------

Note: the 'Combined' column above represents a simple aggregation of the PCHL and AGL results, not an accounting consolidation, and is included merely to provide a guide as to the financial metrics of the new organisation PA Housing

These results evidence a solid financial base position from which the newly amalgamated PA Housing can prosper as it works towards its purpose of delivering more affordable homes and great customer services.

The full audited financial statements for both PCHL and AGL are available from the 'Investor Relations' section of the PA Housing website www.pahousing.co.uk/investor-relations. Please contact our Finance Director Simon Hatchman for further information.

This information is provided by RNS

The company news service from the London Stock Exchange

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