Investor Relations

Incommunities has enjoyed positive relationships with its funders since transfer in 2003. In 2018/19 Incommunities committed to restructure the Group’s facilities and secure the funding requirements to deliver the “Improving Lives to 2040” strategic objective.

The refinancing allowed Incommunities to:

  • Reduce the overall cost of funding.
  • Increase the average maturity of the debt by refinancing some of the existing debt and providing additional facilities.
  • Diversify the sources of funding.
  • Provide c.£100m of unused facilities (including a £50m retained bond).


This resulted in a more cost effective and diverse funding portfolio.

Performance Highlights

3-Year Summary 

 

Statement of Comprehensive Income (£m)

2023-24

2023-23

2021-22

Turnover

113.1

104.4

102.1

Operating Surplus

18.5

12.2

15.2

Surplus for the year

9.1

0.9

3.5

3 Year Summary - Properties

 

Number of properties

2023-24

2022-23

2021-22

No. of properties

22,833

22,672

22,708

New homes built

203

84

126

Current Regulatory Judgement

The Regulator of Social Housing assesses registered housing providers on how well they meet its standards. Ratings are issued on a scale of 1 to 4 for governance and financial viability, for all social housing providers owning 1,000 or more social housing homes.

Incommunties is rated G1 / V1 which means:

  • G1: The highest rating a housing provider can achieve, showing that we meet the regulator’s governance requirements and have achieved the highest standards for managing risks and controlling the organisation. 
  • V1: A strong viability rating, showing that we meet viability requirements and have the financial capacity to deal with a range of challenges.

Current regulatory judgement

Contacts

As a valued investor, your primary contacts can be found below:

John Wright, Executive Director of Finance john.wright@incommunities.co.uk