Our record-breaking accounts
We've posted record-breaking financial results in our 2018/19 annual report.
Our accounts for the latest financial year, available online, include our highest ever turnover and operating surplus in our 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.
We 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.
Futures completed on 230 new homes during 2017-18, also a record for the housing association, and is close to meeting its 2016 corporate plan target of 1,000 new homes by March 2020.
The Group also expanded by 470 homes in November 2018 following a stock acquisition from Notting Hill Genesis.
In July, Inside Housing magazine named Futures as one of the UK’s top 50 developers following its record new homes total.