Home Group reports strong results for the year ended 31st March 2018

September 26th, 2018 in Home Group News

Home Group, one of the UK’s largest providers of new homes for sale and affordable rent and a national provider of integrated housing, health and care, has reported on its financial performance for the last financial year.

During 12 months of political change and a focus on working toward Home Group’s ambitious target of building 10,000 new homes across the UK by 2021/22, the organisation made significant progress in its mission to build homes, independence and aspirations. 


Headlines: 

• Turnover of over £360 million. 
• Invested £238 million in development of new houses, building 1,364 new homes for rent and ownership. 
• Maintained its customer satisfaction level of 93%.
• Achieved 4.2% (£10.8 million) efficiency savings against a target of 4.0%. 
• Surplus before tax of £51.8 million, a 7% increase on the previous year. This is reinvested in improving Home Group’s existing housing stock, building more homes and meeting the varied needs of customers.  

Other highlights of the 2017/18 financial year include: 

Focus on helping customers to own their own homes: Customer insight has shown that 87% of Home Group customers aspire to own their own home. In response to this, the organisation is increasing the proportion of its developments available for outright sale or shared ownership, providing high quality affordable places to call home. This has generated £35 million of income, a 100% increase on the previous year. Surplus generated by these developments are reinvested in the construction of new social housing stock.

Launched new development product, Persona: Home Group is placing a much greater emphasis on developing new products to increase development output. Persona, the new outright sales brand, was the first to launch.  

Great Place to Work score increased: Home Group places a strong emphasis on developing brilliant colleagues. That’s why our customer satisfaction level was at 93% and why we increased our Great Place to Work score to 73% in Feb 2018.  This exceeds the target of 70% and has placed the organisation as 27th in the UK best large workplace rankings.

Success for new models of care team: New business within Home Group’s new models of care delivered £7.3 million of income during the year and will deliver £11.5 million of income during 2018/19. The team is looking to secure a further £6.2 million of income during 2018/19.

Achieved award success: Home Group was shortlisted for 19 awards and were listed as finalists for 11 of them. Award wins include: 

- Development programme of the year at UK Housing Awards 
- Best large apprentice employer (North East) at National Apprenticeship Awards
- Best publication (Homelife) at Chartered Institute of Public Relations North East  


Bob Davies, Chair of Home Group 2017/2018, said

“Our financial year has seen some great achievements. We are delivering on our promises, our service standards continue to be rated as excellent by our customers and our finances are in good health. None of this would be possible without the hard work and continued dedication of our colleagues. I would like to take this opportunity to thank them all and recognise the huge contribution they make.

“There is always more we can do. As always, we remain committed to focusing on where we can make improvements to our performance. We have set ourselves demanding targets for the coming year and whilst the external environment remains challenging, we are confident that our core principles of building more homes, creating independence and supporting our customers’ aspirations have never been more relevant.”

Mark Henderson, Chief Executive at Home Group, said

“We’re pleased with our performance during the last financial year, but are by no means sitting on our laurels. We’re continuing to work hard to meet our targets, adapt to any upcoming political changes and play our part working to tackle the housing crisis”.