Clarion reports continued strong performance in Half Year Accounts
Read our accounts for the half year ending 30 September 2021.
- Clarion Housing Group announces an increased in turnover and investment in existing homes in first half of the year
- Customer satisfaction was maintained over its target, ending at 80.8%
- The published accounts reflect Clarion’s focus on sustainability and safety in its homes
Clarion Housing Group has today published its accounts for the half year ending 30 September 2021.
The Group’s turnover increased to £512 million (2020: £432 million) and its net surplus increased to £100 million (£71 million), while overall customer satisfaction was maintained over its 80% target, ending the year at 80.8%. In addition, Clarion increased its investment in its existing homes to £53 million (2020: £29 million) and increased its development output, completing 892 new homes (2020: 860) – of which 86% were for affordable tenures.
During the period, Clarion was announced as a Strategic Delivery Partner by Homes England, which will see the Group bring forward 4,770 new affordable homes under the Affordable Homes Programme 2021-26. Clarion has also been allocated from the Greater London Authority to support its plans to deliver 2,000 new affordable homes in the capital between 2021 and 2026.
Building safety remained a top priority for Clarion and £18.6 million was invested in fire safety. In September, the Group acted quickly and in accordance with advice following a series of in-depth investigations and evacuated its 22-storey Large Panel System building in Bow, Clare House.
“I’m proud that we have delivered such a strong financial and operational performance during the first half of the year.”
Mark Hattersley, Chief Financial Officer
Focus on sustainability
Clarion has increased its focus on sustainability this year and has completed its first pilot homes as part of the Social Housing Decarbonisation Fund Demonstrator to significantly upgrade more than 100 of its most energy inefficient homes in Fenland and Tonbridge. During the first half of the year, the Group also raised £300 million in its third sustainable bond issue, with a peak order book of over £1.2 billion, to help fund the delivery of new, energy-efficient homes.
Mark Hattersley, Chief Financial Officer, commented:
“I’m proud that we have delivered such a strong financial and operational performance during the first half of the year. Our financial strength and resilience provides the platform for us to continue to build new homes, support our residents and invest in Clarion communities across the country.”