We published our half-year trading statement today, Wednesday 12 November, setting out how we’ve performed financially in the first six months of 2025/26.
We have delivered resilient performance in the first half of the year, navigating some challenges whilst maintaining our strong financial foundation. We've taken decisive action to strengthen our position, strategically selling assets that sit outside our core mission, including our Folio private rental business. Our focus has been on building financial resilience whilst staying true to what matters most – our residents and communities.
We've made real progress in transforming into a truly resident focused organisation through our Better Together strategy. The improvements are tangible: more residents are satisfied with our service, we're tackling damp and mould effectively with no critical cases outstanding, and we're keeping our buildings safer with up-to-date fire risk assessments. We're delivering on our commitments, completing the surveys and safety works our homes need, and we're building momentum as we continue this transformation journey throughout the year ahead.
Patrick Franco, chief executive officer, said:
“As an organisation undergoing a significant transformation, I am pleased with the progress we have made in the first half of the financial year. We have strengthened the fundamentals of the organisation, increased our investment in residents’ homes and improved the service we provide, whilst also maintaining a robust financial position.
“Looking ahead, we have clear plans in place to maximise operational efficiencies by focusing our activities on London, to continue deleveraging through strategic asset disposals and to improve the quality of our residents' homes, powered by £800m investment over the next 10 years. We remain on track to deliver these plans, to deliver growth in FY2025/26 and to further strengthen our financial resilience in the years ahead."
