RNS Number : 5696E
Onward Homes Limited
17 September 2024
 

Publication of annual report and financial statements of Onward Homes Limited for the year ended 31 March 2024

Onward Homes Limited (OHL) is the charitable registered provider of social housing within the Onward Group. Onward Group Limited (OGL) is the parent entity in the Onward Group and is a non-charitable registered provider of social housing.

The annual report and financial statements of both entities are published today and are available for viewing on Onward's website.

 

Onward Homes Limited

(onward.co.uk)

OHL has made a net surplus before tax for the year of £15.1m (2023: £16.9m). This is a year-on-year reduction of £1.8m due to increased net interest costs. Underlying this, operating surplus of £26.0 (2023: £24.3m) has increased by £1.7m versus the prior year.

OHL ended the financial year with cash and cash equivalents of £14.4m (2023: £46.5m). The reduced cash position is due to the funding of the entity's development programme. OHL held excess cash during the prior year following its £50m bond issue in 2022.

 

Onward Group Limited

(onward.co.uk)

The consolidated group has made a net surplus before tax for the year of £11.6m (2023: £11.0m). Underlying this, operating surplus of £25.0m (2023: £19.8m) has increase by £5.2m versus the prior year. This is in part due to the fact that prior year results included the impact of a £3.5m impairment charge applied in OGL's subsidiary, Onward Build Limited (this entity is not a registered provider of social housing).

 

For further information, please contact:

Onward Homes Limited

 

Dani James

Executive Director of Finance

 

3rd/4th Floor

Watson Building

4 Renshaw Street

Liverpool

L1 2SA

 

Email: Danielle.james@onward.co.uk

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
ACSSFMFLWELSEIU
Onward Homes 53 (LSE:YJ18)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Onward Homes 53 Charts.
Onward Homes 53 (LSE:YJ18)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Onward Homes 53 Charts.