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Wheatley Group Capital PLC announced Wheatley Housing Group's trading results for the six months to 30 September 2024 on 10 February 2025, reporting a turnover of £234.5m, an operating surplus of £56.6m, and a surplus before tax of £20.5m. During this period, £84.1m was invested in homes, and the group completed a £125m private placement in September 2024.
| Date | 10 Feb 2025 |
| Time | 15:42:57 |
| Category | Miscellaneous |
| ID | 5713W |
Wheatley Group Capital PLC
213800H5Z7A5G7ZS2U33
Wheatley Housing Group announces strong mid-year results
Wheatley Housing Group today announced its trading results for the six months to 30 September 2024.
Turnover was £234.5m, up from £202.3m for the same period in the prior year. Operating surplus of £56.6m represented an operating margin of 24.2% and a surplus before tax of £20.5m, £3.8m higher than budget. EBTIDA of £84.8m for the period produced interest cover at 235%, with EBITDA-MRI interest cover at 149%.
£84.1m was invested in homes on planned asset management, repairs and maintenance in the six months to 30 September 2024 to ensure continued delivery of the strategic asset management objectives, while achieving strong customer feedback, including a 95% satisfaction score this summer from customers in Wheatley Homes South, a subsidiary company in Dumfries and Galloway with over 10,300 homes.
Liquidity was enhanced in the period with the completion of a £125m private placement in September 2024.
The Group's Mid-Year Trading Update can be accessed here: H1 FY 2025 Trading Update
For further information, please contact:
Wheatley Group Capital plc
Pauline Turnock
Group Director of Finance
Wheatley House
25 Cochrane Street
Glasgow G1 1HL
Telephone: 0141 278 6629
Email: [email protected]