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.
Contacts
As a valued investor, your primary contacts can be found below:
David Konu, Interim Director of Finance david.konu@incommunities.co.uk
