Optivo Finance PLC Annual Financial Report (0137G)
21 7월 2021 - 9:02PM
UK Regulatory
TIDM20SY
RNS Number : 0137G
Optivo Finance PLC
21 July 2021
Publication of Optivo's Financial Statements for the year ended
31st March 2021
Financial Statements are now available online:
https://www.optivo.org.uk/Leaflets-Publications/Financial-statements.aspx
Results are in line with our Preliminary Unaudited Accounts
released 21(st) May.
-- Turnover GBP332m, (2019/20: GBP322m)
-- Operating Surplus GBP104m (2019/20: GBP90m)
-- Surplus before fair value movements: GBP51m (2019/20:
GBP46m)
-- 90% (2019/20: 92%) of turnover from social housing
activities.
The GBP10m increase in turnover was generated principally from
rental income and open market sales (none in 19/20) from new homes
completed.
Operating costs (excluding sales) decreased by GBP8m (4%) to
GBP216m. Additional fire safety spend and higher routine
maintenance costs resulted in a GBP4 million (7%) increase in
maintenance costs. Service charge costs increased by GBP3 million
(12%) and exceeded income of GBP28m, mainly due to additional fire
safety spend and fees yet to be recovered. We've also released the
GBP1.8m provision for rent bad debts (2019/20), as rent collection
performance has remained strong in 2020/21. Social housing cost per
unit decreased by GBP47 / home to GBP4,378.
Optivo invested GBP190m in new homes and GBP20m on improvements
and component replacements in existing homes. We developed and let
552 new homes (mostly social housing tenures), and had a further
2,812 new homes under construction.
Interest cover (EBITDA-MRI) was 143% and gearing 46% on
historical cost basis.
Optivo will hold a results call for investors at 10:00am on
Friday 6 August. Please register interest with us at
treasury@optivo.org.uk .
More information
https://optivoinvestors.co.uk/
Tariq Kazi
Director of Corporate Finance
tariq.kazi@optivo.org.uk
020 8036 2293
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