Our financial statements for 2025/26
Our results reflect the resilience of our business and our ability to manage operational risks successfully. This financial strength allows us to continue investing in the services our customers value most: responsive repairs, safe and well-maintained homes, and the support needed to help customers remain in their homes.
Our strong position has also enabled us to respond to new and changing regulations and keep building homes to meet housing need.
Our financial and operational highlights:
- Turnover: Total revenue increased to £176m (2024/25: £164m), reflecting the annual rent uplift and the letting of newly completed homes.
- Operating surplus: Our operating surplus rose to £58.9m (2024/25: £49m) as our responsive repairs service stabilised and we achieved better value for money.
- Total surplus: Our total surplus of £23.9m (2024/25: £12.2m) reflects steady interest costs and a reduction in fair value movement on our financial investments.
- Investment in existing homes: We invested £25.4m to provide a reliable interim repairs service while we procured the right long-term partner. We also invested £20.7m in improving homes, proactively keeping our customers’ homes safe and in good condition.
- Investment in new homes: We built 383 new homes, spending £88m and moving 1,345 customers off waiting lists into a secure, low-cost home.
