Designs, builds, and manages health & social care facilities
Joint Venture with construction firm Morgan Sindall
76% stake in modular construction business
What Ashley House does
Ashley House PLC (LON:ASH) is involved in the design, construction, and management of health and social care facilities. Originally a specialist in GP surgeries, the company has since moved into affordable and care housing.
The company is also engaged in extra care housing and health property partner services, which allows it to work with providers and commissioners in various sectors.
The company operates through three main branches;
• Health – focusing on facilities for health professionals such as primary care centres, GP surgeries, and laboratories
• Housing – affordable housing designed for the elderly and those with extra care needs
• Modular – an off-site construction business that delivers buildings such as student accommodation, school classrooms, hotels, and retail units
What it owns
The company’s modular construction arm is operated by its subsidiary F1 Modular, in which it owns a 76% stake while the remaining shares are owned by F1’s management.
The JV, known as Morgan Ashley, focuses on the delivery of extra care housing and care homes as well as assisted living accommodation.
- The company is expecting profits from three deals to fall within its current year despite some legal delays to singing off the contracts in its last financial year
- In August, the firm said it expected the deals to reach financial close over the “next couple of months”
- Stephen Minion, one of the original directors and shareholders of the company, stepped down from the board to preserve good governance
While it awaits closure on the three deals, the company said that it would be managing its cash “carefully” and that the board was currently exploring “a number of sources” of funding.
The company believes the new contracts will give it a boost in its current year once the profits begin to flow in.
With the shares trading at around 5p, Ashley House carries a market cap of £3.04mln.