TIDM93LF
RNS Number : 3682K
Home Group Ld
01 September 2021
Home Group Limited
Home Group reports strong financial position
Home Group, one of the largest housing associations in the UK,
has published its latest results in its financial statements for
the year to 31 March 2021.
The financial year brought with it challenges with the uncertain
broader economic situation due to both the pandemic and Brexit.
Given this backdrop the group is pleased to report a good set of
annual results and an ongoing strong financial position.
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 GBP430 million
Surplus before tax of GBP28.8 million
Invested GBP84.4 million to maintain and improve customers'
homes
Invested GBP159 million in development of new homes
Delivered 1,019 new homes during the year for rent and
ownership
Following an In-Depth Assessment by the Regulator of Social
Housing, we retained the highest governance and viability rating of
G1/V1
Other highlights include:
Customer support
A priority at the outset of lockdown was making sure our
customers felt safe and supported. More than 33,000 wellbeing calls
were made by colleagues to customers in the first few months of
lockdown.
As lockdown went on and started to impact jobs and livelihoods,
our financial inclusion team worked tirelessly to support customers
struggling to make ends meet.
In the first six months of the pandemic, the team increased
payment arrangements for our customers by GBP165,000; increased
customer income by GBP810,000; reduced customer outgoings by
GBP125,000 and retrieved GBP25,000 of payments through backdated
benefits.
Building the right homes in the right places
Despite lockdown halting construction for a significant period,
we continued with our plans to deliver over 1,000 new homes per
year. We achieved 1,019 homes by end of March 31, 2021. That was
only slightly down on the previous year.
Decarbonisation
We committed significant investment to ensure we deliver our
long-term roadmap to net-zero. We've developed a framework and
detailed long-term plan to reach our targets by 2050.
Underpinning our approach to sustainability is the certification
of our ISO 14001:2015 Environmental Management System. In December
2020, we achieved recertification with no non-conformances.
Earlier this year Home Group, along with Abri, Anchor Hanover
Group, the Hyde Group and Sanctuary Group, formed The Greener
Futures Partnership - a pioneering partnership based on the shared
ambitions to lower emissions, reduce fuel poverty and improve
living conditions for residents by creating sustainable,
affordable, healthier and safer homes.
Around the same time, Home Group agreed a deal with major energy
provider SSE, which will see it use renewable electricity
throughout its corporate offices. Over 2,500 meters will be
converted from brown to green energy.
Last autumn, we launched a successful campaign to support
customers who were in fuel poverty, or facing it, last winter.
During the campaign, support from our financial inclusion team, in
partnership with Agility Eco under the Connect for Help referral
system, led to GBP250,000 in savings or income maximisation on
energy related issues, which equated to GBP500 for each customer
who went through the service.
John Cridland, Chairman of Home Group, said: "Every year,
without fail it seems, there are challenges put in front of us - be
they political, economic or social. And every year we rise to those
challenges.
"However, this past year has challenged us like never before.
Covid-19 has tested every inch of our business, our energy and
resolve, our values and our strength of character.
"I'm proud to say that we've stood up to every test we've faced.
Considering the unprecedented challenges we've faced, our
performance has been exceptional."
Home Group Limited
Consolidated Statement of Comprehensive Income
For the year ended 31 March 2021
2020 2019
GBP000 GBP000
Turnover 428,893 406,096
Cost of sales (93,196) (79,364)
Operating expenditure (including exceptional
item) (277,271) (261,905)
Surplus on disposal of housing properties 9,520 15,451
Group operating surplus 68,946 80,278
Share of profit in joint ventures /
associates 938 1,698
Interest receivable 2,728 3,296
Interest payable and financing costs (43,843) (43,304)
Surplus on ordinary activities before
tax 28,769 41,968
Taxation (2,302) (726)
Surplus for the year 26,467 41,242
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END
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September 01, 2021 04:11 ET (08:11 GMT)
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