HCS Hacas Grp.

RNS Number:3717G
Hacas Group PLC
29 February 2000


                   HACAS Group PLC ("HACAS")
  (The leading UK social housing consultancy with offices in
                     London and Edinburgh)

                    GOOD START TO THE YEAR
                               
Speaking  at the Annual General Meeting in London today,  Julian
Ashby, the Chairman, made the following comments:

"We  had a good start to the year with the management accounts
for  the  first  four  months of the  current  financial  year
showing  that  the results for the period were  ahead  of  the
similar period last year and in line with our budget.

"We  have  maintained our position as the leading  consultancy
advising the social housing sector.  The sector owns over  25%
of  the  UK  housing stock and comprises housing associations,
local  authority  and  other public sector  housing  providers
together  with the related government departments, regulators,
trade bodies, suppliers and funders.

"Last  year  we  advised  Glasgow City  Council,  the  largest
housing  authority in Scotland, and last week Birmingham  City
Council,  the largest housing authority in England,  announced
that   HACAS   Group  had  been  appointed  as  overall   lead
consultants on the transfer of its entire housing stock to new
social  landlords.  HACAS Exchequer Services will act  as  the
funding  adviser  and  HACAS  Asset  Management  Services   on
property related issues.

"HACAS  is  also  advising  one of the  government's  flagship
regeneration schemes, the Aylesbury Plus scheme in the  London
Borough  of Southwark.  This ambitious programme will  attract
total investment of #235 million over the next 10 years.  This
includes  over #56 million from the Government's New Deal  for
Communities scheme, the largest allocation made so far.  Plans
include  major  improvements  in local  health  and  education
services,  as  well  as a comprehensive housing  redevelopment
programme drawing in over #100 million in private finance.

"The two major contracts mentioned above are indicative of the
type  of  projects  on  which we  advise.   We  are  currently
advising  on a wide range of projects and I am confident  that
we can look forward to another year of good progress."


For further information:

Julian Ashby (Chairman)                     020 7609 9491
Brian Coleman-Smith / Simon Ellis           020 7786 9600
Binns & Co Public Relations


Background note:

In  the year to 30 September 1999, Group turnover increased by
38%  to  #4.74 million.  The profit before tax was up  76%  to
#1.13 million and earnings per share increased by 65% to  2.9p
per  share.   The Group declared total dividends of  1.1p  per
share.

The Market

The  social  housing sector is the Group's  primary  operating
market.   The  sector  comprises housing  associations,  local
authority  and other public sector housing providers  together
with  the  related  government departments, regulators,  trade
bodies, suppliers and funders.  This sector owns over  25%  of
the UK housing stock.

The  HACAS group advises some of the largest local authorities
(such  as Birmingham and Glasgow City Councils) and a majority
of  the  largest housing associations.  The 500  most  regular
housing  association clients hold assets ranging  between  #50
million  and  #1.4 billion.  Other clients include  government
departments, The Housing Corporation, Scottish Homes, National
Audit Office and the Audit Commission.

Government policy encourages area regeneration and substantial
investment  in  repairing  and  modernising  local   authority
housing.   This  often  involves the  transfer  of  the  local
authority's  housing  stock  to  a  housing  association   and
substantial funding from the commercial loans market.   It  is
anticipated  that  some #13 billion of such  funding  will  be
required over the next ten years.  This is a key area  of  the
Group's work.

HACAS  carries  out  research for government  departments  and
regulators and also advises financial institutions, commercial
companies  involved in the social housing sector  as  well  as
Eastern European governments.

END

CAGEANANAENEEEE

Hacas Grp. (LSE:HCS)
Historical Stock Chart
From Jul 2024 to Jul 2024

Hacas Grp. (LSE:HCS)
Historical Stock Chart
From Jul 2023 to Jul 2024