94DD Catalyst Hou 47

TIDM94DD

RNS Number : 4336N

Catalyst Housing Limited

24 September 2019

Catalyst Housing Limited

24 September 2019

Catalyst Housing Ltd - Publication of Financial Statements for the financial year ending 31 March 2019

Catalyst Housing Limited announces the publication of its financial statements.

The financial statements can be accessed via the following link:

https://www.chg.org.uk/our-business/publications/

A copy of this document has been filed with the National Storage Mechanism.

Highlights

These financial statements are for Catalyst Housing Group as at 31 March 2019, and as such do not reflect the merger with Aldwyck Housing Group which took place on 1 May 2019. Post-merger, the new group owns and manage 32,000 homes across London and the South East and has retained both its G1 and V1 regulator rating, and its S&P credit rating of A (outlook negative).

In 2018/19, Catalyst achieved turnover of GBP180 million and a surplus of GBP30 million, despite a difficult sales market. Although turnover at a Group level did see an impact from lower market sales, the underlying financial strength and operating performance continued to improve, with the operating surplus from social housing lettings increasing year on year.

During the year, Catalyst delivered 560 new homes, with over 84% being affordable development. This was supported with grant awarded under the GLA's Strategic Partnership.

In addition to delivering new homes, Catalyst launched its Customer Experience Programme - a business wide initiative to ensure we provide our customers with an excellent customer experience every time. There has been an improvement in our customer satisfaction score in 2019, and we will continue to build on this in the over the coming year.

Catalyst is driven by social purpose and increased its social investment to cGBP3 million this year. This enabled Catalyst Gateway (our community investment team) to organise 89 projects attended by 4,100 customers, this including digital inclusion, as well as improved access to life-enhancing opportunities such as employment and training.

ENDS

This update may contain certain forward-looking statements reflecting, among other things, our current views on markets, activities and prospects. Actual outcomes may differ materially. Such statements are a correct reflection of our views only on the publication date and no representation or warranty is given in relation to them, including as to their completeness or accuracy or the basis on which they were prepared.

For further information, please contact:

 
 Michaela Booth   0208 832 3394 
 

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