Moat Homes Limited Annual Financial Report (5796V)

TIDM79NB

RNS Number : 5796V

Moat Homes Limited

10 August 2022

Moat Homes Limited

10 August 2022

Moat Homes Annual Report and Financial Statements 2021/2022

Moat Homes Limited

Moat Homes Finance Plc

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

Dated 10 August 2022

Moat Homes today announces its consolidated audited financial results for 2021/22 which show

-- Turnover for 2021/22 of GBP181.3m, an increase from GBP152.8m the previous year. Of this, GBP114.8m (previous year - GBP108.2m) is comprised of social housing lettings income, with the majority of the balance being first tranche sales income from shared ownership homes of GBP29.4m (previous year - GBP34.3m) and open market sales of GBP34.6m (previous year - GBP7.7m).

-- Operating surplus before gains on disposal of fixed assets was GBP49.8m (previous year GBP46.5m).

-- Gains on disposals of fixed assets were GBP14.3m (previous year - GBP7.9m). This reflects increased staircasing activity and redemptions of equity loans on customers' homes.

-- Total comprehensive income was GBP60.7m (previous year - GBP40.1m), reflecting the higher operating performance as well as a positive movement in the fair value of financial instruments GBP15.5m and in the remeasurement of the pension liability GBP2.6m.

-- As at 31st March 2022 the net book value of housing properties is GBP1,639m (previous year - GBP1,579m). The current assets figure for homes held for sale is GBP31.1m (previous year - GBP65.3m).

-- Moat completed 500 new homes in the year (previous year - 422), of which 264 were for rent, 206 were for shared ownership and 30 for market tenures.

Download Moat's Annual Report and Financial Statements 2021/2022 and ESG Report 2022 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

Greg.Taylor@moat.co.uk

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END

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