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LONDON - Sanctuary Group reported an 8.7% increase in annual revenue to £1,179.3 million for the year ended March 31, 2025, according to a press release issued Monday.
The housing provider’s underlying operating surplus rose by £19.3 million or 9.3% to £226.0 million compared to £206.7 million in the previous fiscal year. Underlying operating margin improved slightly to 19.2% from 19.0% a year earlier.
The revenue growth was primarily driven by the group’s Affordable Housing business, which benefited from increased revenue from existing homes, additional income from new affordable homes, and a full year of revenue from Johnnie Johnson Housing.
Despite the revenue and operating surplus improvements, Sanctuary reported an overall deficit of £29.7 million for the year, contrasting with a £196.3 million surplus in fiscal 2024. The deficit was attributed to revaluation movements and other adjustments related to student properties classified as held for sale, as well as the cessation of several defined benefit pension schemes.
Cash generated from operating activities increased to £374.8 million from £286.6 million in the previous year. The group ended the fiscal year with a cash balance of £159.6 million and undrawn facilities of £356.5 million, providing 23 months of financing against committed expenditure.
Sanctuary’s housing portfolio grew slightly to 125,719 homes under management, up from 125,094 homes a year earlier. Resident satisfaction declined marginally to 64% from 66% in the previous year, while rent arrears improved to 3.0% from 3.2%.
The group maintained strong occupancy rates across its various operations, with student occupancy at 95%, up from 93% in fiscal 2024, and care home occupancy at 90%, compared to 88% previously.
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