Clarion Funding plc Group Annual Report and Accounts 21/22 (0256A)

TIDM96XN TIDM51GC

RNS Number : 0256A

Clarion Funding plc

20 September 2022

Clarion Funding plc

Clarion Housing Group reports strong financial and operational performance

Clarion Housing Group has today published its Group Annual Report and Accounts for the year 2021/22. The accounts show a strong financial performance with an operating surplus of GBP303 million (2021/22: GBP258 million) and a net surplus of GBP186 million (2020/21: GBP122 million), on a turnover of GBP1.059 billion (2020/21: GBP944 million).

The Group invested GBP364 million in maintaining and improving its existing homes (2020/21: GBP290 million) and also delivered a record number of new homes. Of the 2,276 new homes built, 86% were for affordable tenures. Clarion also welcomed 899 formerly homeless households into social homes last year and helped 3,717 people into work through its charitable foundation, Clarion Futures.

During the year, Clarion continued to drive forward its sustainability activity - successfully bidding for GBP5.2 million in government funding to upgrade the energy efficiency of 450 homes in Fenland, Merton and Tonbridge & Malling.

Clarion listened carefully to the views of its residents during the year, and used its annual customer survey to understand attitudes towards climate change and climate conscious actions. It also worked with external think tanks, such as the RSA and Centre for Cities , to understand more about residents' lives, and in particular the challenges they face, so that it could target its support to those most in need effectively.

Mark Hattersley, Chief Financial Officer, said: "This Annual Report demonstrates our continued strong financial performance - a firm foundation from which to deliver for our residents. This year, we have placed an even bigger emphasis on learning, improving and listening to our residents.

"Looking at the year ahead, one of the biggest external challenges will be the cost of living crisis. We know this will have a disproportionate impact on social housing residents and we are looking at how we can continue to support our residents. The main way we can make a difference is by continuing to provide safe, secure and affordable housing and we look forwarding to building on the success of last year when we delivered a record number of new homes - providing and maintaining homes for those that need them most."

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For information, please contact: Lucy Pond, senior communications manager - 020 3840 1645 / lucy.pond@clarionhg.com .

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