Our Financial Achievements
Review of the Business year ending 31 March 2009:
The Group's turnover increased by 26% to £53.8m during the year as a result of the development programme (the Association increased its turnover by 19% to £40m).
Total Group assets increased by 4.6% to £456m (Association increase by 9.1% to £298m).
The Group reported a deficit of £0.4 million primarily as a result of our continued development activities and the advancement of planned maintenance designed to meet the Government's decent homes standard.
This result is in line with the Group's long term business plan projections. Group loan draw downs for the year totalled £43.5m to fund the development activity. The Group received £38.4m of capital grant funding from the Homes Communities Agency and local authorities (Association - £38.4 million).
Annual Reports:
Click here to view the Financial Statements