We published our half-year trading statement today, Friday 1 November, setting out how we’ve performed financially in the first six months of 2023/24.
Despite the continued challenging economic environment, we have made solid financial and operational progress in the first half of the year.
Turnover, operating surplus and net overall surplus all increased compared to the same period for 2023/24 and we made progress against the objectives of our Better Together strategy. This included significant investment in day-to-day repairs and our planned investment programme, as well as in socio-economic activities in our communities.
Notting Hill Genesis remains financially robust with substantial liquidity and continues to maintain good relationships with our principal lenders, so we are ready and able to access the capital market, as necessary.
“We have made a solid start to the year, with the organisation progressing both strategically and financially,” says chief executive Patrick Franco.
“Good cost control helped drive growth in operating surplus and the operational changes and investment we have made in the last 12 months are beginning to deliver results.
“I am pleased with how the organisation has responded to the need to deliver better homes and services to our residents. Record investment is improving the quality of our homes, and we are becoming much more responsive to resident needs.
“We remain committed to supporting the government’s ambitions for housebuilding and the announcements made in this week’s budget marked some progress towards those goals. But in the current operating environment, further urgent action is needed. Housing associations like Notting Hill Genesis are eager to play a role in solving the housing crisis, but our ability to do so hinges on stronger support and investment from the government.”
