Arhag Annual Report 2019/2020

As highlighted in previous financial years, we are now in the final year of a four-year sector mandated 1% reduction in average rents. As at 31 March 2020, there has been a cumulative 16% reduction in rent levels against business planning assumptions as at 31 March 2016. Work continues to ensure that our current properties are safe and compliant with the current fire risk assessments. Despite the difficult trading conditions encountered our finances have remained strong and enabled us to grow and remain viable and competitive through another challenging economic cycle. TRADING POSITION 16 % Reduction in average rents in the last four years Annual Report 2019-2020 19