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Housing Today
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L&Q trebles surplus as operating costs fall
Housing association spends £112m on capital works as it shifts expenditure towards existing homes
L&Q has trebled its surplus for the 2023/24 financial year.
The 109,000-home housing association, in its financial statement for the 2023/24 financial year, reported an overall surplus of £117m, up from £40m the previous year.
The increase was due mainly to a reduction in operating costs from £1.1bn to £891m. The group said its headline operating cost per social housing unit decreased by 17%.
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