Largest housing association reveals increased surplus | News

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Largest housing association reveals increased surplus

Clarion Housing Group has seen both its turnover and operating surplus increase in its annual report and accounts for 2019/20.

Turnover for the UK's largest housing association rose from £816m to £842m, with operating surplus rising from £282m to £293m.

The accounts also show a significant investment by the Group, with £631m invested into new homes and £102m into improving existing homes. 

A record 2,101 new homes were completed, representing a 69% increase on the previous year with 86% of these completions being affordable tenures.

Overall customer satisfaction for the year was above target at 80.9% and the Group delivered £130m in social value through Clarion Futures, its charitable foundation.

Mark Hattersley, Chief Financial Officer at Clarion Housing Group, said: "We are pleased to report a strong and resilient performance for the last financial year, exceeding our targets across a range of measures and completing more new homes than ever before.

"These accounts detail results up to the end of March this year and while so much has changed in the world since then, this highlights the strength of Clarion’s position as the pandemic hit.

"I am immensely grateful to the colleagues across the group who delivered this performance and for everything they have done to support our residents in the months since. Our mission to provide good quality, affordable homes to those failed by the market has never been more important.”