PRE-TAX profits at Ashley House, which builds health centres, rose by 24 per cent last year to £5.1 million despite revenues falling from £25.6m to £19.8m.
Ashley House, which has a market value of about £60m, said the rise in profits was due to h
igher margins, while the fall in revenue was attributed to fewer projects being undertaken than in its previous financial year.
The company's earnings per share reached 12.9p, up from 11.4p in 2007.
The board has proposed a final dividend of 3.7p, up by 23 per cent on the previous year and bringing the total dividend for the year to 6p.
During its past financial year, Ashley House acquired stakes in seven NHS local improvement finance trusts (Lifts) from Babcock & Brown. Its Lifts are due to undertake £300m worth of developments over the next three years. Sir William Wells, Ashley House's chairman, said: "As a result of the NHS Lift acquisition, together with real progress in our new business areas, we look forward to the coming years with confidence. Whilst the economic background looks challenging, there is increasing activity in our markets."
The full article contains 203 words and appears in The Scotsman newspaper.
