TIDM93LF
RNS Number : 4973Y
Home Group Ld
09 September 2020
Home Group Limited
Home Group reports strong performance for the year to 31 March
2020
Home Group, one of the largest housing associations in the UK,
has reported a strong performance in its financial statements for
the year to 31 March 2020.
Despite significant external challenges caused by Brexit and
Covid-19, Home Group remains on track to deliver the priorities set
down in its five-year strategic plan to 2022.
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 over GBP406 million
Surplus before tax of GBP42.0 million
Invested GBP90 million to maintain and improve customers'
homes
Invested over GBP192 million in development of new homes
Delivered 1,167 new homes during the year for rent and
ownership
Other highlights include:
Customer promise
Home Group officially launched its customer promise following a
successful pilot in 2018/19. The promise was shaped by its
customers and will be assessed and evaluated by them. It offers the
opportunity for customers to scrutinise all parts of the
business.
New Models of Care
During 2019/20 Home Group worked with close to 15,000 vulnerable
people through its supported health and housing schemes.
Its New Models of Care programme continues to grow, working
closely with NHS providers and local authorities to deliver
solutions for customers with mental health needs, learning
disabilities, autism or those needing support and reablement. New
business won in 2019/20 will deliver GBP28 million of revenue.
Persona
Home Group's outright sales brand, Persona, which was set up in
2018, continues to develop at a pace. It is developing homes across
the country, with prices starting from GBP150,000
John Cridland, Chairman of Home Group, said: "Overall, our
performance in the year to 31 March 2020 has been strong,
especially considering the challenges we, and the rest of the
sector, have faced. We still have difficult times ahead as we deal
with the impact of Covid-19.
"However, our strategy going into 2020/21 continues to be bold
and ambitious. We are all behind our mission to build homes,
independence and aspirations. With the level of professionalism,
energy and passion shown by colleagues this past year, I'm very
confident indeed we'll rise to the challenge we face."
Mark Henderson, Chief Executive of Home Group, said: "We
achieved almost everything we set out to do last year, despite the
hugely challenging environment within which we were operating.
"Our performance across the organisation was outstanding given
some of obstacles in our way. Our success last year was without
doubt down to the exceptional commitment, effort and perseverance
by all colleagues at Home Group.
"Not all organisations are fortunate enough to have people with
such remarkable levels of professionalism, skill, leadership, and
innovative thinking. Thankfully, we are.
"There will undoubtedly be challenges over the next year, like
there will be for everyone in the sector, but we know what the key
ones will be, and we'll be ready for them."
Home Group Limited
Consolidated Statement of Comprehensive Income
For the year ended 31 March 2020
2020 2019
GBP000 GBP000
Turnover 406.096 367,317
Cost of sales (79,364) (38,040)
Operating expenditure (including exceptional
item) (261,905) (248,959)
Surplus on disposal of housing properties 15,451 5,930
Group operating surplus 80,278 86,248
Share of profit in joint ventures /
associates 1,698 2,304
Interest receivable 3,296 2,582
Interest payable and financing costs (43,304) (44,163)
Surplus on ordinary activities before
tax 41,968 46,971
Taxation (726) (2,243)
Surplus for the year 41,242 44,728
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END
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