Clarion Funding plc Interim Report and Accounts 2022/23 (5841J)
December 13 2022 - 10:10AM
UK Regulatory
TIDM96XN TIDM51GC
RNS Number : 5841J
Clarion Funding plc
13 December 2022
Clarion Funding plc
13 December 2022
Clarion Housing Group has today published its accounts for the
half year ending 30 September 2022 .
Against the backdrop of a challenging external environment, the
Group has delivered a net surplus of GBP101 million (2021: GBP100
million), all of which has been reinvested back into its homes and
communities. GBP168 million was spent improving and maintaining
homes (2021: GBP156 million) and 785 new homes were completed - 84%
of which were for affordable tenures.
The Group saw a slight reduction in turnover, at GBP481 million
(2021: GBP512 million) -predominantly driven by a decrease in sales
income and partially offset by additional net rental income. O
perating surplus ended the half year at GBP150 million (2021:
GBP164 million), reflecting the higher levels of cost inflation,
increased expenditure on repairs and maintenance and additional
provisions against rent arrears linked to the cyber-attack.
Following the cyber-attack which occurred in June, Clarion has
been working to bring its systems back online safely and securely
and it is now delivering services as normal.
Key operational highlights during the first half of the year
include achieving final planning approval for the first 200 new
homes at Clarion's Eastfields estate in Merton -- one of the
largest regeneration projects in the country.
In addition, Clarion has created a dedicated team to tackle
condensation, damp and mould and has invested in new equipment to
support its early detection, taking advantage of new technology in
order to track property interventions and measure and report on
results. The new, proactive and data -- led approach allows
problems to be caught early, before they become more disruptive for
residents.
The services delivered by the Group's charitable foundation,
Clarion Futures, remain as vital as ever as the cost of living
crisis impacts households across the country. During the first six
months of the year, Clarion Futures has helped 944 people into work
and 29 people to set up their own business. It has also helped
1,903 people into training. A total of 5,506 actions were
undertaken by the Money Guidance Team and its external partners to
help residents manage their money more effectively in these
difficult times.
Mark Hattersley, Chief Financial Officer, commented: "We are
pleased to report a good set of results, despite the significant
economic pressures. We are well placed to navigate these challenges
and absorb many of the shocks of the external market, whilst
continuing to support our residents and provide homes to those that
need them most."
Ends
For more information contact Lucy Pond, senior communications
manager: 020 3840 1645 / lucy.pond@clarionhg.com .
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