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CLARION INCREASES NEW HOMES AND SURPLUS

In its Q4 market update, Clarion Housing Group announced it had completed 2,101 new homes, 86% of which were for affordable tenures, during the financial year 2019/20. The figure represents an increase from 1,243 built the previous year.

The Group’s unaudited management accounts for the 12 months to 31 March 2020 also show a turnover of £841 million (an increase from £816 million in 2018/19), delivering an operating surplus of £290 million - £8 million above the prior year - and a full year pre-tax net surplus of £161 million (2018/19: £154 million).</p?

Richard Cook, Group Development Director at Clarion Housing Group commented: “I am very pleased to have exceeded our target for new homes in the last 12 months. Working with delivery partners across the country we are building good quality and affordable homes at scale.

Quality and affordability are integral to our development programme. We have only committed to schemes that meet our standards and ensure we partner with companies who share our passion for building mixed communities.

While the next few months will bring uncertainty to our sector, Clarion has more than 100 years of history and our development team is well placed to continue to deliver sustainable growth in the number of new homes in the years to come.”

The results signal a positive year in which a number of other successes include the regulator’s reaffirming of the Group’s G1/V1 ratings, a landmark sustainable bond issue and the continued strong performance of the charitable foundation, Clarion Futures, which supported 3,834 people into work.