Turnover and surplus up at Home Group in first nine months of the year

Home Group has reported increased pre-tax surplus and turnover for the nine months to 31 December.

The 56,000-home association, in an unaudited trading update, said its pre-tax surplus for the period was £26.2m, a 59% increase on the £16.5m recorded in the same period the previous year.

It said its turnover increased by 8% to £369m. However the full-year surplus is expected to be lower than £26.2m due to building safety costs.

Home Group also said it built 890 homes in the nine-month period, up from 867 the previous year.

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Despite the increase however, Home Group said completions were “slightly behind expectation due to site-specific challenges, including supply chain challenges, utilities delays and statutory approvals.”