Moat Homes Limited Annual Financial Report (4930I)

TIDM79NB

RNS Number : 4930I

Moat Homes Limited

12 August 2021

Moat Homes Annual Report and Financial Statements 2020/2021

Moat Homes Limited

Moat Homes Finance Plc

GBP300,000,000 5 per cent Secured Bonds due 2041

Dated 12 August 2021

Moat Homes today announces its consolidated audited financial results for 2020/21 which show

-- Turnover for 2020/21 of GBP152.8m, an increase from GBP141.7m the previous year. Of this, GBP108.2m (previous year - GBP103.2m) is comprised of social housing lettings income, with the majority of the balance being, as in the previous year, first tranche sales income from shared ownership homes.

-- Operating surplus before gains on disposal of fixed assets was GBP46.5m (previous year GBP38.2m).

-- Gains on disposals of fixed assets were GBP7.9m (previous year - GBP11.8m). This reflects reduced staircasing activity and redemptions of equity loans on customers' homes.

-- Total comprehensive income was GBP40.1m (previous year - GBP26.6m), reflecting the higher operating performance as well as a positive movement in the fair value of financial instruments partially offset by an adverse movement in the remeasurement of the pension liability.

-- As at 31st March 2021 the net book value of fixed assets is GBP1,579m (previous year - GBP1,496m). The current assets figure for homes held for sale is GBP65.3m (previous year - GBP83.6m).

-- Moat completed 422 new homes in the year (previous year - 553), of which 219 were for rent, 197 were for shared ownership and 6 for market tenures.

Moat Homes have published an Environmental, Sustainability and Governance (ESG) Report 2021 having adopted the Sustainability Reporting Standard for Social Housing during 2021

Download Moat's Annual Report and Financial Statements 2020/2021 and ESG Report 2021 at

https://www.moat.co.uk/about-us/investor-information

Notes

-- Moat owns and manages over 20,000 homes in the UK, spread across South East London, Kent, Essex and Sussex.

-- The organisation is focused on delivering homes to those in housing need with over 90% of its development pipeline comprising affordable homes either to rent or to buy.

For further information please contact:

Greg Taylor

Executive Director - Finance and Corporate Services

[e-mail]

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August 12, 2021 09:21 ET (13:21 GMT)