Home Group Limited

Trading update for six months to 30 September 2021

Home Group Limited (Home Group) issues its unaudited Group trading update for the six months ended 30 September 2021. 

Commenting on the results, John Hudson, Chief Financial Officer said:

"The first half of 2021/22 saw us deliver a surplus before tax of £18.6 million - slightly ahead of expectation and slightly lower than the equivalent period in 2020/21. We have seen increased spend on maintenance this year reflecting catch-up of repairs work deferred during periods of lockdown, increasing contractor and material costs and additional building safety works. We expect this to continue in the second half of the year. In terms of the full year to 31 March 2022 we expect surplus before tax to be broadly in line with our budget.

Our operational performance in the first half of the year has been good with both voids and arrears at lower levels than at the start of the pandemic in April 2020.

Our financial inclusion team continues to provide excellent support to our customers facing financial hardship, including those in fuel poverty. This is an increasing challenge for many of our customers as energy prices increase and we recognise our role in mitigating fuel poverty through improving the energy efficiency of our homes, providing customers with energy advice and lobbying to raise the profile of this key issue.

We were delighted to publish our inaugural ESG report demonstrating our sustainability credentials and improving disclosure to our key stakeholders.

We continue to have influential relationships with key stakeholders including central and local government given our scale and strategic importance, and these relationships are central to our future growth aspirations as both a provider of social housing and provider of care and support services which provide a lasting difference to our customers lives."

The full trading update is available at:

https://www.homegroup.org.uk/media/nb4nhtka/home-group-half-year-report-2021.pdf

For further information, please contact:

Steve Hallowell

Director of Treasury and Investor Relations

M:  07736 097160

Email:  [email protected]