Boston Mayflower Finance PLC

10 February 2023

Boston Mayflower Finance PLC, a wholly owned subsidiary of Lincolnshire Housing Partnership (a registered Housing Association), announces the trading update for LHP for the 9 months to 31^st December 2022.

The figures presented are unaudited and for information purposes only. Any forecast information is based on current reasonable assumptions and should be treated with caution as actual results may be subject to change.

With rising inflationary pressures to manage this year, LHP continues to closely monitor it's financial and operational performance. With consistent operating margins and good levels of liquidity, LHP remain in a strong position to continue to meet the needs of our customers by investing in their homes, local communities, and services.

As at P9, The Statement of Comprehensive Income reflects the fact that LHP have been affected by  increasing costs for materials and sub- contractors, however LHP have benefitted from higher than forecast RTB and RTA property sales. During the year LHP have been recruiting in the repairs and maintenance team and now have a full complement of staff, which will start to reduce sub-contractor costs going forward.

During the year, LHP restructured its RCF facilities, reducing our annual funding costs and removing covenant restrictions, increasing flexibility for the future.

There have been no changes to the Group structure during the period.

Following the year end, we will be inviting all parties to a Webinar where we will present our financial statements for the year to 31^st March 2022 and provide a commentary on our operational and financial performance. We will post an update with further details in due course on the "Investors" webpage of the Lincolnshire Housing Partnership website.

For further information or comments on this announcement, please contact:

[email protected]

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