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Clarion’s surplus grows to 32% in latest results
Clarion Housing Group has seen its operating surplus rise by 18.7% to 32.2% for the six months to the end of September, its latest results have revealed.
The 125,000-home landlord’s quarterly report showed that surplus stood £165m in the latest trading period up from £139m. Turnover for the six months stood at £512m, up by £80m from £432m in the previous year.
The association’s fixed housing assets stood at £7.96bn, up from £7.78bn since 31 March.
Drawn debt stood at £4.41bn, up from £4.32bn.
According to Clarion, rent arrears has decreased slightly from 6% the previous quarter to 5.9%.
The landlord completed 892 new homes during the first half of the year, up from 860 during quarter two of 2020.
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The housing association has a current development pipeline of 22,456 homes. Outright market and shared ownership sales generated an income of £138m, up from £77m over the same period in 2020, sales margin stood at 10.9%.
Last month, Clarion was announced as a strategic delivery partner by Homes England and was allocated £249.7m to deliver 4,770 new affordable homes under the Affordable Homes Programme – helping to accelerate delivery across the country.
The housing association has also been allocated £240m in grant funding from the Greater London Authority to support plans to deliver 2,000 new affordable homes in London between 2021 and 2026.
Earlier this month, Clarion announced plans to shuffle its executive team.
Chief operating officer Michelle Reynolds will become chief customer officer, and group commercial director Rob Lane will become chief property officer.
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