Final Results

Home Group Limited

Home Group reports strong performance for the year to 31 March 2020

Home Group, one of the largest housing associations in the UK, has reported a strong performance in its financial statements for the year to 31 March 2020. 

Despite significant external challenges caused by Brexit and Covid-19, Home Group remains on track to deliver the priorities set down in its five-year strategic plan to 2022.

The top 10 UK housing association showed strong performance across key parts of its business, allowing it to deliver on its mission to build homes, independence and aspirations.

Headlines:

Turnover of over £406 million

Surplus before tax of £42.0 million

Invested £90 million to maintain and improve customers' homes

Invested over £192 million in development of new homes

Delivered 1,167 new homes during the year for rent and ownership

Other highlights include:

Customer promise

Home Group officially launched its customer promise following a successful pilot in 2018/19. The promise was shaped by its customers and will be assessed and evaluated by them. It offers the opportunity for customers to scrutinise all parts of the business.

New Models of Care

During 2019/20 Home Group worked with close to 15,000 vulnerable people through its supported health and housing schemes.

Its New Models of Care programme continues to grow, working closely with NHS providers and local authorities to deliver solutions for customers with mental health needs, learning disabilities, autism or those needing support and reablement. New business won in 2019/20 will deliver £28 million of revenue.

Persona

Home Group's outright sales brand, Persona, which was set up in 2018, continues to develop at a pace. It is developing homes across the country, with prices starting from £150,000

John Cridland, Chairman of Home Group, said: "Overall, our performance in the year to 31 March 2020 has been strong, especially considering the challenges we, and the rest of the sector, have faced. We still have difficult times ahead as we deal with the impact of Covid-19. 

"However, our strategy going into 2020/21 continues to be bold and ambitious. We are all behind our mission to build homes, independence and aspirations. With the level of professionalism, energy and passion shown by colleagues this past year, I'm very confident indeed we'll rise to the challenge we face."

Mark Henderson, Chief Executive of Home Group, said: "We achieved almost everything we set out to do last year, despite the hugely challenging environment within which we were operating.

"Our performance across the organisation was outstanding given some of obstacles in our way. Our success last year was without doubt down to the exceptional commitment, effort and perseverance by all colleagues at Home Group.

"Not all organisations are fortunate enough to have people with such remarkable levels of professionalism, skill, leadership, and innovative thinking. Thankfully, we are.

"There will undoubtedly be challenges over the next year, like there will be for everyone in the sector, but we know what the key ones will be, and we'll be ready for them."

Home Group Limited

Consolidated Statement of Comprehensive Income

For the year ended 31 March 2020