Clarion increases new homes and surplus
Q4 update for Clarion Housing Group shows an increase in new homes in 2019-20.
In its Q4 market update, Clarion Housing Group announced it had completed 2,101 new homes, 86% of which were for affordable tenures, during the financial year 2019-20. The figure represents an increase from 1,243 built the previous year.
The Group’s unaudited management accounts for the 12 months to 31 March 2020 also show a turnover of £841m (an increase from £816m in 2018/19), delivering an operating surplus of £290m - £8m above the prior year - and a full year pre-tax net surplus of £161m (2018/19: £154m).
“Our development team is well placed to continue to deliver sustainable growth in the number of new homes in the years to come.”
Richard Cook, group development director at Clarion Housing Group
Richard Cook, group development director at Clarion Housing Group, commented:
“I am very pleased to have exceeded our target for new homes in the last 12 months. Working with delivery partners across the country we are building good quality and affordable homes at scale."
“Quality and affordability are integral to our development programme. We have only committed to schemes that meet our standards and ensure we partner with companies who share our passion for building mixed communities."
“While the next few months will bring uncertainty to our sector, Clarion has more than 100 years of history and our development team is well placed to continue to deliver sustainable growth in the number of new homes in the years to come.”
The results signal a positive year in which a number of other successes include the regulator’s reaffirming of the Group’s G1/V1 ratings, a landmark sustainable bond issue and the continued strong performance of the charitable foundation, Clarion Futures, which supported 3,834 people into work.