Results Update

RNS Number : 6828A

Inland Homes PLC

30 September 2015

 

30 September 2015

Inland Homes plc

('Inland Homes', 'Inland', the 'Group' or the 'Company')

Results Update

The Board of Inland Homes announced in its trading update on 23 July 2015 that the preliminary results announcement for the twelve months ended 30 June 2015 would be released in September 2015.  The Board can now confirm that the announcement of these results will be on or before 19 October 2015.  The reason for the delay is that the Board is re-considering the application of the new accounting standard, IFRS 10, as to whether Drayton Garden Village Limited should be consolidated within the Group's financial statements.  IFRS 10 is effective for accounting periods beginning on or after 1 January 2014 and, to date, Drayton Garden Village Limited has not been consolidated.

Irrespective of whether or not the Group consolidates Drayton Garden Village Limited, the Board can confirm that, as first advised on 17 June 2015, the Group's profit before tax for the year ended 30 June 2015 will be significantly ahead of the then consensus forecast in the market of £12.7m.

Enquiries:
www.inlandplc.com AIM: Ticker: INL
Inland Homes plc	Stifel Nicolaus Europe Limited	Blytheweigh
Stephen Wicks, Chief Executive	Nominated Adviser & Broker	IR & Media Relations
Nishith Malde, Finance Director Paul Brett, Land Director	Corporate Finance: David Arch and Roger Clarke	Tim Blythe: Wendy Haowei Fergus Lane: or
Tel: [phone]	Tel: [phone]	Tel: [phone]

Notes to Editors:

Inland Homes identifies brownfield land in the South and South-East of England principally for residentially led development schemes.  The business then enhances the land value by obtaining planning permission, before building houses for private sale or selling consented land onto other developers.

 

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