TIDM60OT

RNS Number : 4041B

Yorkshire Housing Finance plc

30 September 2022

Yorkshire Housing annual report and financial statements

Yorkshire Housing Finance Plc would like to inform investors that the Yorkshire Housing Group financial statements for the year ended 31(st) March 2022 can be accessed through the following link:

YH Group Annual-Report-and-Financial-Statements-2022 (YH website)

Or through the national storage mechanism:

YH Group Annual-Report-and-Financial-Statements-2022 (NSM)

Some highlights include:

-- Turnover increased 5% to GBP148.7m compared to a year earlier. Yorkshire Housing (YH) has continued to invest in new homes and this is reflected in this figure.

-- Refinancing and break costs of GBP35.8m were incurred in the year. A one-off cost that has allowed YH to significantly reduce ongoing interest charges, improve security efficiency, strengthen interest cover and streamline covenants.

Andy Oldale - Executive Director of Finance and Governance said "Strong market and shared ownership sales during the year contributed to a good underlying result. We have taken the opportunity to strengthen our liquidity, reduce the cost of borrowing and improve our security efficiency during the year. Although this has resulted in a significant overall loss, I'm confident that Yorkshire Housing is now in a really strong position to deliver on our strategy of providing more affordable homes and homes and places that our customers can be proud of."

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