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LONDON - Moat Homes Limited reported a total turnover of £164 million for the financial year 2024/25, up from £154 million in the previous year, according to a press release statement issued Thursday.
The housing association’s core social housing lettings turnover grew by £16.5 million, representing a 12.3% increase, driven by rental growth from newly developed properties and inflation-based annual rent increases.
Operating surplus from social housing lettings increased to £40 million from £37 million in the previous year, despite higher repair spending associated with an interim contract and investments in skills and capacity. The total surplus decreased to £12 million from £21 million, affected by higher interest costs and fair value movement on financial investments.
During the fiscal year, Moat Homes completed 478 new homes, up from 354 in 2023/24. Of these, 369 units (77%) were designated for rental purposes and 109 (23%) for low-cost home ownership. The company currently has 1,192 new homes in its development pipeline, down from 1,704 in the previous year.
The housing association invested £63 million in existing homes through repairs, maintenance, decarbonization and component replacements, compared to £51 million in the previous year. Investment in building new homes totaled £81 million, down from £107 million.
Turnover from first tranche shared ownership sales decreased to £11 million from £17 million, reflecting fewer properties available for sale. As of March 31, 2025, only two first tranche homes remained unsold, with no market sales planned until 2026.
The company also announced Helen Evans as the new Chair of Moat’s Board, beginning in September 2025. She will succeed Steve White, who is stepping down after nine years of leadership.
Moat Homes maintains an A3 stable credit rating from Moody’s and manages over 23,000 affordable homes across the South East of England.
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