NHG resumes trading in bonds after delayed accounts published

NHG said previously it would “promptly apply” for the bonds to be re-listed once its accounts had been released.

Under the Financial Conduct Authority’s rules, an organisation has to suspend trading in bonds if its annual report is delayed. 

NHG also previously delayed reporting its 2021-22 accounts. However, this was blamed on staffing problems at its auditors BDO.

The association’s latest full-year accounts revealed that it booked £101.5m in exceptional items in the year to the end of March 2024. This included a £53.7m building safety leasehold provision and a £10.1m impairment related to the value of homes affected by fire safety work. 

It emerged earlier this month that John Hughes, NHG’s long-serving deputy chief executive and group development director, has stepped down. He had spent 22 years at the landlord in its various guises. 

The association has a relatively new chief financial officer. Mark Smith joined NHG in April from NHS Property Services, which provides landlord and property services for 2,700 NHS buildings across England. 

NHG is looking to recruit its first chief governance and risk officer to help it maintain compliance with the English regulator’s standards. 

The landlord currently has a G1/V2 rating for governance and financial viability from the regulator. NHG has yet to be awarded a consumer grade under the Regulator of Social Housing’s new regime.