Paragon Treasury PLC Annual Financial Report (5296X)

TIDM60VT

RNS Number : 5296X

Paragon Treasury PLC

01 September 2020

2019/20 financial statements and supplementary information for investors

Paragon Treasury Plc's parent company, Paragon Asra Housing Limited ('PA'), announces the release of its audited financial statements for the financial year ended 31 March 2020.

PA is pleased to confirm that its results were in line with the Board's financial plans, allowing for some deviation from plan in the final weeks of the year due to Covid-19. The audited results are consistent with the results disclosed in the trading update released on 6 May 2020, which was based on the unaudited management accounts for the year. The key changes from the preliminary results were to insert standard year end accounting adjustments in respect of financial instruments and final salary pension scheme liabilities.

Headline Group figures are as follows:

 
                                             2019/20  2018/19  2017/18 
Turnover GBPm                                    150      160      165 
Of which shared ownership sales                    8       11       15 
Operating surplus GBPm                            55       62       65 
Operating margin (all activities)                37%      39%      40% 
Operating margin (social housing lettings)       26%      33%      36% 
Operating margin (shared ownership sales)        42%      33%      40% 
Net surplus before tax GBPm                       29       39       33 
Total assets less current liabilities GBPm     1,830    1,714    1,671 
Cash reserves GBPm                                46       50       23 
Financial indebtedness GBPm                      801      712      691 
Properties owned / managed                    22,743   23,059   23,505

These results represent continued financial resilience, leaving PA well placed to respond to current challenges and deliver corporate plan objectives. All financial golden rules continue to be fully met.

The full audited financial statements for PA are available from the Investor Relations section of our website: www.pahousing.co.uk/about-us/investor-relations . The document includes information about our performance during the year and future expectations, including a section dedicated to our environmental, social and governance activities.

Please contact our Resources Director Simon Hatchman for further information.

email simon.hatchman@pahousing.co.uk

Direct tel 07720 087108

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