Clarion Funding
plc
17 July
2024
Clarion invested over five times its
annual surplus in improving existing homes
and building more affordable
housing in 2023/24
Clarion Housing Group has today published its
audited financial results for 2023/24 in its Group Annual Report
and Accounts. http://www.rns-pdf.londonstockexchange.com/rns/8061W_1-2024-7-17.pdf
The accounts demonstrate a robust and resilient
performance with an operating surplus of £237 million (2023: £261
million) and a net surplus of £87 million (2023: £97 million).
These results have been delivered against an unprecedented backdrop
of financial and operational challenges faced by both the housing
sector and the country over the course of 2023/24. Turnover
remained comparable to the prior year at £993 million (2023: £1,008
million).
The Group again focussed on delivering for its
residents, investing more than £400 million in maintaining and
improving properties, spending £18 million (2023: £17 million) on
supporting our communities and achieving an improved overall
customer satisfaction score of 83.8% (2023: 81.0%). Although the
Group adopted a more cautious approach to development, it still
delivered over 1,500 new homes - the majority of which (67%)
were for affordable tenures.
The Group Annual Report notes Clarion's
charitable foundation, Clarion Futures, helped almost 8,000 people
into jobs, training, or self-employment during the year, while
across the entire organisation £123 million was delivered in social
value. In addition, the rents charged in the year were more than
£500 million below the Local Housing Allowance (LHA), which equates
to a saving of more than £9 million per week to our residents and
the public purse.
Mark Hattersley, Chief Financial Officer, said:
"We continue to deliver in a really challenging operating
environment, so I am immensely proud of our teams across the
business who have delivered a strong set of results while seeking
to maintain and improve the services we provide our residents. This
approach ensures we maintain the financial strength that underpins
our long-term future and to build the new homes we so desperately
need."
"A key milestone in the year has been the
transformation programme we embarked upon named Connect, which will see us improve how
we do things and enable us to provide a consistently good service
to our residents. We are already seeing some positive early results
and I am looking forward to what more we can deliver over the years
to come."
Ends
For more information, please contact Lucy Pond,
Senior Communications Manager: lucy.pond@clarionhg.com