Our financial performance

Key Financial Indicators

  2020/21 2019/20 2018/19 2017/18
  Number of homes in management 42,599 43,155 42,857 42,133
  Turnover £332m £322m £314m £317m
  Turnover from Social Housing 90% 92% 95% 84%
  Operating Surplus £104m £90m £103m £117m
  Interest Cover 189% 197% 247% 262%
  New Homes Spend £190m £183m £245m £156m
  Investment in existing homes £20m £20m £20m £13m
  Total Borrowings £1,497m £1,478m £1,281m £1,089m
  Committed facilities £2,137m £1,883m £1,661m £1,695m
 

Regulator of Social Housing - Value for Money metrics

  2020/21 2019/20 2018/19 2017/18
  Investment in property %  6.8% 8.2% 9.7% 6.7%
  New supply delivered %  1.4% 2.0% 2.1% 0.9%
  Gearing %  46.0% 46.0% 43.8% 38.8%
  EBITDA-MRI %  143.3% 150.3% 191.6% 217.1%
  Social Housing cost per unit  £4,378 £4,425 £4,189 £4,246
  Operating Margin  24% 23% 29% 31%
  Return on Capital Employed  3.3% 2.8% 3.5% 4.3%
  Rent Arrears  4.1% 4.3% 4.5% 3.9%
  Customer Satisfaction  88.7% 94.5% 96.0% 96.7%
  Ratio of responsive to planned repairs 0.4 0.4 0.3 -
  Void rent loss  1.10% 1.60% 0.81% 0.59%
  Rent collected (General needs & HOPS)  100.2% 99.8% 99.2% 98.8%
  Reinvestment % (in new and existing homes)  6.8% 8.2% 10.0% -
  Investment in communities  £1.9m £2.0m £2.3m -
  Occupancy  99.4% 99.3% 97.9% -
 

Ratings

  Date Result
  Credit Rating - Moody's  02 October 2020 A3 Stable
  Regulator of Social Housing Governance Viability Judgement  02 December 2020 G1
  Regulator of Social Housing Financial Viability Judgement  02 December 2020 V1


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