At the beginning of April, we launched our new Corporate Strategy which sets out the Group’s direction and purpose for the next three years.
Entitled ‘A business with social objectives’ the strategy addresses the changes in the housing sector and the need for the business to expand its product range and move with these changes.
Group Chief Executive Tom Dacey said the strategy provided a series of responses to the challenges that the Group and industry faces.
“We continue to experience times of great change with Government reforms to the welfare system, the reduction in public funding to build new homes and the need to work more efficiently,” he said.
“The Corporate Strategy focusses squarely on the future while being considerate of our history, legacy and purpose. In particular, we need to look closely at how we make money that can in turn be reinvested back into our core business.
“We have already taken the first steps towards a more commercially aware direction, having received our Moody’s A1 rating and issuing our first bond, allowing us access to at least £175 million in investor loans at competitive rates.
“We are proud of our history and traditions and our renewed direction is very much in keeping with the vision established by the organisation back in 1901 of providing housing for all needs in London and the south east."