Clarion Funding plc Half Year Results (5605W)
11 Dicembre 2019 - 3:29PM
UK Regulatory
TIDM96XN TIDM51GC
RNS Number : 5605W
Clarion Funding plc
11 December 2019
Clarion Funding PLC
Wednesday 11(th) December
Clarion announces record number of new home completions for
first half of FY 2019/20
Clarion Housing Group has today published its half year results
for 2019/20, which detail an increase in the number of new
affordable homes completed, continued investment in existing
Clarion homes and an increase in resident satisfaction with
repairs.
Clarion completed 691 new homes in the first half of 2019/20
(compared to 420 in H1 2018/19) which equates to an increase of 65%
on this time last year. Of these new homes, 96% were for affordable
tenures.
In parallel, the Group continued to invest in the maintenance of
existing homes, with GBP92 million spent in the first six months of
H1 2019/20, up from GBP86 million in H1 2018/19.
The Group's turnover (GBP402 million) and surplus (GBP69
million) saw a reduction from last year, but both remain
healthy.
Clarion Futures, the charitable foundation of Clarion Housing
Group, supported more than 2,000 people into work in the last six
months and is on course to match its record of helping over 4,000
people into employment, which was set last year.
Clarion Response, the Group's in-house repairs arm, continued to
complete an average of more than 1,000 repairs every day, with
resident satisfaction with repairs climbing again to 89.4%.
Clare Miller, Group Chief Executive commented:
"These strong half year results demonstrate that Clarion
continues to build on strong foundations. We are delivering more
new affordable homes, investing in our existing properties and
creating communities that work for our residents.
"Despite the challenging external environment for the sector, we
retain a robust financial position and are well placed to continue
to deliver a strong performance and meet our long-term
objectives."
Key metrics from the half year accounts are below, with the full
half year results on the Clarion Housing Group website.
http://clarionhg.com/media/1990/clarion-housing-group-hy1920-web.pdf
H1 2019/20 H1 2018/19
Turnover GBP402m GBP410m
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Surplus for the period GBP69m GBP87m
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Capital investment GBP284m GBP240m
in new homes
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New homes started 1,132 880
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New homes completed 691 420
----------- -----------
Overall customer satisfaction 79.6% 78.8%
----------- -----------
Repairs satisfaction 89.4% 88.4%
----------- -----------
Ends
For more information contact:
Gareth Francis, director of treasury and corporate finance,
Clarion Housing Group - 0778 7555655 /
gareth.francis@clarionhg.com
Lucy Pond, communications manager, Clarion Housing Group - 0771
8269023 / lucy.pond@clarionhg.com
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END
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