Clarion announces record number of new home completions for first half of FY 2019-20
Clarion Housing Group publishes its half year results for 2019-20, showing an increase in the number of new homes.
Clarion Housing Group has today published its half year results for 2019-20, which detail an increase in the number of new affordable homes completed, continued investment in existing Clarion homes and an increase in resident satisfaction with repairs.
Clarion completed 691 new homes in the first half of 2019-20 (compared to 420 in H1 2018/19) which equates to an increase of 65% on this time last year. Of these new homes, 96% were for affordable tenures.
In parallel, the Group continued to invest in the maintenance of existing homes, with £92m spent in the first six months of H1 2019-20, up from £86m in H1 2018/19.
The Group’s turnover (£402m) and surplus (£69m) saw a reduction from last year, but both remain healthy.
Clarion Futures on course to match record of employment support
Clarion Futures, the charitable foundation of Clarion Housing Group, supported more than 2,000 people into work in the last six months and is on course to match its record of helping over 4,000 people into employment, which was set last year.
Clarion Response, the Group’s in-house repairs arm, continued to complete an average of more than 1,000 repairs every day, with resident satisfaction with repairs climbing again to 89.4%.
“We are delivering more new affordable homes, investing in our existing properties and creating communities that work for our residents.”
Clare Miller, group chief executive for Clarion Housing Group
Clare Miller, group chief executive, commented:
“These strong half year results demonstrate that Clarion continues to build on strong foundations. We are delivering more new affordable homes, investing in our existing properties and creating communities that work for our residents."
“Despite the challenging external environment for the sector, we retain a robust financial position and are well placed to continue to deliver a strong performance and meet our long-term objectives.”
Key metrics from the half year accounts
|H1 2019/20||H1 2018/19|
|Surplus for the period||£69m||£87m|
|Capital investment in new homes||£284m||£240m|
|New homes started||1,132||880|
|New homes completed||691||420|
|Overall customer satisfaction||79.6%||78.8%|