Hacas Group PLC - Chairman's AGM Statement
29 February 2000 - 10:35PM
UK Regulatory
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
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