What we’ve been up to in the first half of 19/20

28th November 2019

Our key income and expenditure (unaudited) highlights are as follows:

·         Turnover was £27.2m (half year 2019: £28.8m).

·         Social housing lettings turnover contributed 90% of total turnover (half year 2019: 84%).

·         Operating surplus (including asset sales) was £12m (half year 2019: £11m).

·         Operating margin on social housing lettings was 42% (half year 2019: 40%).

·         Overall operating margin (including asset sales) was 44% (half year 2019: 38%).

·         Overall operating margin (excluding asset sales) was 72% (half year 2019: 67%).

·         Net margin on Shared Ownership sales (first tranche) was 52% (2019: 19%).

·         The surplus after tax for the period was £7.8m (2019: £7.1m).

We are proud to have delivered 29 new homes, as part of our five year strategy to deliver 1,000 new homes. As a result of our increasing development programme, we remain focused on continual modernisation of our service and improving efficiency whilst maintaining strong margins and financial performance. See the results in full here.

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