Trading Statement

Flagship Finance Plc

Issued: 20 May 2025

Bromford Flagship Limited ('Bromford Flagship', 'Bromford Flagship Group', 'the Group') performance update

"BROMFORD FLAGSHIP REPORTS A STRONG SET OF RESULTS"

The merger between Bromford and Flagship completed on 28 February 2025, bringing together two housing associations to create one of the leading and strongest housing associations in the country.

Despite what continues to be a challenging operating environment Bromford Flagship, today, reports a strong set of results in its 2024-25 Trading Update. Our purpose is to enable people to thrive and our vision is that everyone has a safe affordable place they can call home. Our key highlights demonstrate how we are meeting our purpose and delivering our vision:

· £214m operating surplus (including asset sales).

· 81% turnover from social housing lettings with 33% operating margin on social housing lettings.

· 1,770 new homes delivered in year including 519 for Social Rent and 706 for Affordable Rent.

· Maintained sector leading A+/A2 credit ratings, affirmed March 2025.

· Rated G1 / V1 by Regulator of Social Housing.

· 40% asset gearing, 1.64x interest cover and 2.5x liquidity coverage.

· 80% overall customer satisfaction and 54% reduction in outstanding repairs in year.

· 49% market-social rent differential and 47 customers coached into employment or training.

For more information our 2024-25 performance follow this link to our Trading Update.

If you have any specific questions, please contact Rachel Brook, Head of New Funding and Investor Relations (07718 966243).