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Home Gp 43 | LSE:93LF | London | Bond |
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TIDM93LF
RNS Number : 4973Y
Home Group Ld
09 September 2020
Home Group Limited
Home Group reports strong performance for the year to 31 March 2020
Home Group, one of the largest housing associations in the UK, has reported a strong performance in its financial statements for the year to 31 March 2020.
Despite significant external challenges caused by Brexit and Covid-19, Home Group remains on track to deliver the priorities set down in its five-year strategic plan to 2022.
The top 10 UK housing association showed strong performance across key parts of its business, allowing it to deliver on its mission to build homes, independence and aspirations.
Headlines:
Turnover of over GBP406 million
Surplus before tax of GBP42.0 million
Invested GBP90 million to maintain and improve customers' homes
Invested over GBP192 million in development of new homes
Delivered 1,167 new homes during the year for rent and ownership
Other highlights include:
Customer promise
Home Group officially launched its customer promise following a successful pilot in 2018/19. The promise was shaped by its customers and will be assessed and evaluated by them. It offers the opportunity for customers to scrutinise all parts of the business.
New Models of Care
During 2019/20 Home Group worked with close to 15,000 vulnerable people through its supported health and housing schemes.
Its New Models of Care programme continues to grow, working closely with NHS providers and local authorities to deliver solutions for customers with mental health needs, learning disabilities, autism or those needing support and reablement. New business won in 2019/20 will deliver GBP28 million of revenue.
Persona
Home Group's outright sales brand, Persona, which was set up in 2018, continues to develop at a pace. It is developing homes across the country, with prices starting from GBP150,000
John Cridland, Chairman of Home Group, said: "Overall, our performance in the year to 31 March 2020 has been strong, especially considering the challenges we, and the rest of the sector, have faced. We still have difficult times ahead as we deal with the impact of Covid-19.
"However, our strategy going into 2020/21 continues to be bold and ambitious. We are all behind our mission to build homes, independence and aspirations. With the level of professionalism, energy and passion shown by colleagues this past year, I'm very confident indeed we'll rise to the challenge we face."
Mark Henderson, Chief Executive of Home Group, said: "We achieved almost everything we set out to do last year, despite the hugely challenging environment within which we were operating.
"Our performance across the organisation was outstanding given some of obstacles in our way. Our success last year was without doubt down to the exceptional commitment, effort and perseverance by all colleagues at Home Group.
"Not all organisations are fortunate enough to have people with such remarkable levels of professionalism, skill, leadership, and innovative thinking. Thankfully, we are.
"There will undoubtedly be challenges over the next year, like there will be for everyone in the sector, but we know what the key ones will be, and we'll be ready for them."
Home Group Limited
Consolidated Statement of Comprehensive Income
For the year ended 31 March 2020
2020 2019 GBP000 GBP000 Turnover 406.096 367,317 Cost of sales (79,364) (38,040) Operating expenditure (including exceptional item) (261,905) (248,959) Surplus on disposal of housing properties 15,451 5,930 Group operating surplus 80,278 86,248 Share of profit in joint ventures / associates 1,698 2,304 Interest receivable 3,296 2,582 Interest payable and financing costs (43,304) (44,163) Surplus on ordinary activities before tax 41,968 46,971 Taxation (726) (2,243) Surplus for the year 41,242 44,728
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September 09, 2020 06:48 ET (10:48 GMT)
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