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LONDON - Aster Group announced a profit before tax of £21.7 million for the six months ended September 30, 2025, exceeding both budget expectations and last year’s figure by £3.1 million, according to a trading update released Wednesday.
The housing provider reported operating profit before impairment and pension cessation costs of £42.2 million, also surpassing budget and prior year figures. Investment in housing stock reached £54.7 million during the period, higher than the £51.9 million spent in the same period last year, though below budget.
The group completed 457 home handovers in the first half, including 423 affordable homes, exceeding delivery levels from the same point last year. Construction has begun on 11 sites that will deliver 310 additional homes.
Asset management programs performed strongly, with profits from asset disposals reaching £15.5 million, up £6.6 million from the same period last year. The company also broke ground on its largest-ever land-led development at Bargates in Christchurch, which will deliver 169 new homes on a brownfield site.
First tranche sales income was £16.2 million, £2.1 million lower than last year and behind budget, which the company attributed to delays in development handovers and lower average initial shares sold, which averaged 31.2%.
The group’s Financial Wellbeing Team supported 807 customers through over 1,200 interactions, securing over £2.7 million in additional income for those customers, primarily through unclaimed benefits.
Aster Group maintained its A (Stable outlook) rating from Standard and Poor’s and G1/V1 rating from the Regulator of Social Housing.
Net debt increased to £1.345 billion from £1.3 billion at March 31, 2025, funding the company’s development program. Liquidity stood at £354 million as of September 30, 2025, with an additional £100 million secured after the period end.
The information in this article is based on Aster Group’s trading update statement.
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