Development also increased on same period in 2023
A2Dominion has reported increased turnover and a drop in surplus in its half-year results.
A financial report for the six months to 30 September 2024 showed that turnover had risen to £218.9m, compared with £204.6m in the same period the year prior.
This was attributed to a £7.8m increase in rental income and an £8.4m increase in sales turnover.
Meanwhile, the 38,000-home landlord’s surplus for the period was £13.4m, down 34% from £20.2m.
The group delivered 354 units during the period, of which 29% are for affordable tenures. This was higher than the 245 units delivered in the same period last year.
It is forecasting 926 units will be handed over by 31 March 2025, the end of its full year accounting period.
The organisation’s development pipeline from 2024/25 onwards totals 1,210 units.
>> Read more: A2 Dominion’s deficit increases as it aims to restore regulatory compliance
A2Dominion reported an increase in responsive repair costs of £4.4m over the period, which it attributed to a rise in the volume of work.
Earlier this year, the housing association received a non-compliant ‘G3’ rating from the regulator, after which it appointed a new interim group director of governance and compliance.
Last month, the group also hired a new interim director of financial services from Southern Network Group.
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