RNS – Aquila Services Group plc Unaudited Interim Results for the six months ended 30 September 2019

We are pleased to present the half-year report and the interim results for the 6 months to 30 September 2019.

The last six months has seen collaboration within in the group, and diversification of our work into new sectors and markets in the UK and internationally. Some key highlights include:

• We continue to diversify the business – this includes the integration of Oaks Consultancy Ltd (acquired in June 2019) taking us into the education and sport sectors, as well as further diversification through working with new for-profit investors in the affordable housing sector.
• Our core offer in supporting the development of affordable housing remains strong – we have seen significant growth with our property team providing support to housing associations and local authorities in delivering housing development programmes.
• We have a strong platform in place for International expansion – we are now working with clients in Asia as well as Africa, and new contracts have been signed in Rwanda, Nigeria, the Kyrgyz Republic, as well as a contract to review the role of Real Estate Investment Trusts internationally for the Centre for Affordable Housing Finance.

We have observed and are managing some challenges, including a reshaping of our traditional interim support services to a short-term placement model, specialising in support at higher skills levels, building on the success of this model for our development expertise. The continued uncertainty posed by Brexit and the current political instability slows the market for some larger opportunities within our governance and treasury business streams, however we are well positioned to grow when the stability returns. Our ambition is to continue to grow the Group and its range of services. We are well positioned to achieve this in the coming years.

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