Metropolitan Funding PLC
Metropolitan Housing Trust
(MHT) Announces Chief Financial Officer to step down in Autumn
2025
Metropolitan Housing Trust announces that its Chief Financial
Officer (CFO), Ian Johnson, has informed the Board of his intention
to retire after a 40-year career
and will step down after ten years as
CFO.
Ian, who will leave when a new CFO is
in post in the Autumn, leaves MTVH in a
strong financial position with its credit rating recently confirmed
as A- stable by Standard & Poor's in December 2024. Ian feels
that the time is now right to retire following a long career in a
variety of senior commercial roles.
Mel Barrett, Chief Executive said: "On
behalf of The Board and Executive Team, I would like to thank Ian
for his contribution to MTVH and wish him well on his well-earned
retirement.
Ian leaves MTVH in a strong financial
position with our credit rating recently confirmed as A- stable by
Standard & Poor's in December 2024. We have the highest
possible G1 Governance Standard rating from the Regulator of Social
Housing and a V2 Financial Viability rating.
While current market conditions make
development of homes more challenging, we continue to have the
financial capacity to build new homes and are on track to deliver
569 homes in the year to March 2025. Our financial results for the
six months to September 2024 showed a robust balance sheet with
available liquidity of £675m and a low gearing ratio of
39%
We are now focused on the appointment
of a new Chief Financial Officer who will build on this track
record of success and continue to maintain our strong financial
governance while helping to maintain MTVH's values as a social
purpose organisation which was established in 1957 to house
Windrush migrants and exists to deliver for our
residents."
Ian Johnson said: "Serving as Chief
Financial Officer for a values-based organisation like MTVH has
been a great privilege.
In a sector facing several competing
pressures, stewarding MTVH's finances has involved many challenging
decisions, however it has been wonderful to see our residents
always at the forefront of our thinking. This was exemplified by
our 2023 Board decision to provide fully for the remediation cost
of our qualifying leaseholders and create a carve out from our loan
covenant to expedite MTVH's fire safety remediation
programme.
Over the last ten years I have worked
hard to build a finance team with strength in depth that has
well-established reporting and financial control processes and a
clear operating model. After a 40-year career, this feels the right
time for me to retire and hand over responsibility.
I am proud of what we have achieved
together in my time at MTVH. We have enhanced resident experience,
created great places to live and met the challenges faced by
communities by supporting people to live well."
Enquiries
Please contact Donald McKenzie,
Director of Corporate Finance, on 0203-535-4434 or at
donald.mckenzie@mtvh.co.uk
This information for investors is also
available on our website:
https://www.mtvh.co.uk/about-us/investor-relations/
The information in this announcement
has been prepared by the Metropolitan Housing Trust group and is
for information purposes only. This should not be construed as an
offer or solicitation to buy or sell any securities, or any
interest in any such securities, and nothing herein should be
construed as a recommendation or advice to invest in any such
securities.
