Our Half Year results 202324 November 2023
We have issued an update on our financial performance covering the first six months to 30 September 2023.
Following the announcement of a £12.8m deficit for 22/23, our half year results show a more positive trend with a current surplus of £20.1m, which is a £9.4m increase compared to our performance over the same period last year.
We've published our half year results
These promising results come at a time when we are starting to see the impact of our new Corporate Strategy, which focuses on providing our customers with safe, warm, and affordable homes that comply with the latest regulations.
Tracey Barnes, Interim Executive Director Central & Financial Services said: “This is a positive sign of improvements compared to this time last year. We’ve seen an increase in turnover of £12.1m and our total reserves have also increased through positive movement in our cashflow hedge reserve.
“We still face challenges as we approach the rest of the financial year, including cost increases, and ongoing investment into repairs and compliance, and the financial impact of the improvements we’re making to our services. All our profits are spent on improving our customers’ homes and services, as well as providing new, much needed homes.”
For further information on the breakdown of our finances, please see our RNS statement.
An investor update presentation is also available on our website.