A2 Dominion has reported an increased deficit, which it says reflects its plan to accelerate investment into improving existing stock following its regulatory downgrade in January.

The 39,000-home housing association, in its financial statement for the year to 31 March, reported a deficit of £21m, up from £12.8m for the same period the previous year.

It said: “This result reflects the group’s decision in its corporate Strategy to refocus finances on improvements to services and customers’ homes, as well as investment in building safety work.