Legal and General Affordable Homes (LGAH) has said its pre-tax profit for 2023 will be £1.3m, after accounting for £35.7m in unspecified revaluation costs.

The for-profit provider has released selected figures from its accounts for the year to 31 December 2023, ahead of publication of its full audited figures later this month. 

Despite the £35.7m hit, the pre-tax profit figure of £1.3m, is up on the £808,000 posted for the previous year.