Paradigm Housing Group's financial
statements for the year ended 31 March 2024
The annual report and financial
statements have been published by Paradigm Housing Group and are
available for viewing at:
https://www.paradigmhousing.co.uk/about-paradigm/our-performance/corporate-publications/financial-statements/
Paradigm Housing Group today
reports a surplus of £20.6m and a strong operating margin of 35%
for the full financial year ended 31 March
2024.
Annual highlights:
·
Completed 504 new affordable homes, with 88% of
customers satisfied with the quality of their new home against a
target of 85%, up from 77% last year.
·
Secured 637 new plots with the pipeline now full
to meet our five-year corporate plan target of 1,950 new homes by
2026.
·
Invested £47m in home repairs and improvements,
including over 38,500 repairs and replacing 1,352 key components
(kitchens, bathrooms, windows, boilers and more)
·
Improved the energy efficiency of our homes, with
71.4% of our homes now at or above an EPC C rating
·
Delivered our first full retrofit to a scheme,
improving its thermal efficiency to EPC B and reducing customers
energy bills up to 50%.
·
Increased our homes in management to
16,667
·
Relet 441 homes to new customers
·
Reduced four-week average arrears to 2.8% against
our target of 3%.
·
Achieved Best Companies 2* accreditation,
demonstrating outstanding levels of staff
engagement
The Group surveyed 1,300 customers
during the year and maintained our upper quartile performance with
79% of general needs customers and 55% of shared owners satisfied
with our services. 81% of customers were satisfied with our repair
services. Our Tenant Satisfaction Measures are published
here:
Annual Tenant Satisfaction Measures - Paradigm
Housing.
Nicola Ewen, Paradigm Housing Group's
Chief Financial Officer, said: "The Group has maintained focus on
its objectives despite the continued challenging operating
environment. We have achieved upper quartile performance for
customer satisfaction, staff engagement and financial metrics,
continued to build new homes and invested significantly in our
existing homes. We have upheld our reputation with our regulators,
investors and lenders as we maintain our position as a financially
robust organisation with substantial liquidity, covenant headroom,
unencumbered assets and strong margins".
Our complete annual report and
financial statements can be found on our website
here.
ENDS
For
more information contact:
Anne Michael | Head of
Communications
anne.michael@paradigmhousing.co.uk
| 01628 811874
About
Paradigm Housing Group:
Paradigm Housing Group is one of the
leading providers of affordable housing in the South East, managing
nearly 17,000 homes. We have grown over the last 35 years to become
one of the largest social housing providers in the counties of
Buckinghamshire, Hertfordshire and
Bedfordshire.
Our vision is to provide excellent
services to customers and build new homes to help more people. We
make sure our homes are safe and sustainable and strive to do more,
by making the most of our resources.
