Derbyshire-based housing group posts record-breaking results

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Derbyshire-based Futures Housing Group has posted record-breaking financial results in its 2018/19 annual report.

Accounts for the latest financial year include the firm’s highest ever turnover and operating surplus in its 12-year history.

The Group’s turnover was £50.6m during 2018-19, up from £50.2m during 2017-18, while operating surplus stood at £20.1m during the period, up from £16.3m.

Futures Housing Group also saw a seven percent increase in operating profit compared to the previous financial year.

Ian Skipp, Group Finance and Resource Director, said: “These results represent the hard work and dedication of our entire organisation. We’re a growing business with big plans to keep creating new homes and forging lasting partnerships in the East Midlands and beyond. Having a strong financial core is a key part of that.

“The record surpluses we have generated will not only fund new homes, but also areas such as tenancy sustainment, employability, training for apprentices, investment in our communities and more.”

In March, Futures secured a £310m refinancing deal, £200m of which was secured on the bond market, to fund its plans to build at least another 1,200 homes above its current corporate target.