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Southern Housing Group, one of the largest housing associations in London and the south east of England, released its Financial Statements and Annual Review for the year 2015/16.
With a surplus on operations of £57.5m, the Group maintained its financial strength, retaining its G1, V1 rating from the Homes and Communities Agency, and keeping its A1 rating with Moody’s.
Tom Dacey, Chief Executive of Southern Housing Group, said the Group delivered a resilient performance throughout the last financial year given the challenges the housing sector had to face.
“These results are a testament to our financial strength and ongoing solid performance as an independent housing provider; this will help further our goal of being ‘a business with social objectives’.
“We have never distributed our profits; every penny of surplus we make is reinvested in building quality affordable homes, improving existing homes and providing a range of support services to our customers.
As well as developing new homes, the Group also focused on continuing to invest in its communities in the last financial year.
“We completed 199 new homes during 2015/16 and have started to work on more than 700 new properties across London and the South East. Over the next 12 months the number of new homes under construction will greatly increase as we begin to develop sites we have recently acquired.
“We want to provide a more affordable housing and create ongoing income streams that can be reinvested to build more homes for people who need them.
“In 2015/16 we continued to support our customers. For example, we invested almost £30,000 in a joint project with Brighton and Hove Albion football club to deliver employment skills training alongside football sessions.
“Our Financial Inclusion Team helped customers claim more than £1m in benefits and grants, which has helped improved their quality of life.”
Other key results for the Group during 2015/16 include:
The full Group Financial Statements and Annual Review and the Group’s Value for Money Statement can be found here.
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For all enquiries, please contact:
Southern Housing Group
0207 324 1236