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LONDON - Peabody Group announced Friday that its annual revenue rose to £1,035 million for the fiscal year ended March 31, 2025, up 4.7% from £989 million in the previous year.
The housing association reported that net rental income from social housing properties increased to £805 million, while maintaining a 99% rent collection rate with average social rents at £147 per week. The group’s social housing margin stood at 19% for the year.
Peabody delivered 1,010 new homes during the fiscal year, including 626 affordable housing units. The organization invested £430 million in property maintenance and improvements, with £231 million allocated to capital expenditure.
Sales revenues from market sale and shared ownership properties declined to £104 million from £130 million in the previous year, with margins decreasing to 10.2% from 11.5%. The group noted that approximately £73 million in sales at its Wornington Green development in Kensington, originally expected to complete this fiscal year, are now anticipated to finalize by July 2025.
The housing provider reported an expected operating surplus of £220 million, down from £244 million in 2024, with operating margin decreasing to 21% from 23%. Financing costs increased by £6 million to £182 million, reflecting higher borrowing levels and elevated interest rates.
Peabody maintained strong liquidity with over £1.1 billion in cash and undrawn facilities. The group reported tenant satisfaction measures showing slight improvements of around 1% across various service areas compared to the prior year.
The organization currently has 6,145 homes under construction, including joint ventures, though it started only 302 new homes during the year as it managed development commitments amid challenging financial conditions.
This information is based on unaudited results released by Peabody Group ahead of its full annual report expected later this year.
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