Home Group Limited

Half year results for the six months ended 30 September 2022

Home Group Limited (Home Group) issues its unaudited half year results for the six months ended 30 September 2022.

Commenting on the results, Helen Meehan, Chief Financial Officer said:

"The first half of 2022/23 saw us deliver a surplus before tax of £13.0 million - which is £5.6 million lower than the equivalent period in 2021/22. Although partly due to increased investment in our planned maintenance programme and building safety works, we have also experienced an adverse impact from increasing inflation and interest rates.

Previously we have been graded G1 V1 by the Regulator of Social Housing, but following their stability check in November 2022 we were regraded to G1 V2 reflecting the current economic uncertainty and the financial pressures this places upon the sector. Our financial plans have been under constant review as we assess the likely impact of economic conditions and consider our priorities so we can continue to deliver for our customers.

The cost of living crisis is affecting everyone, and we continue to support our customers through referral to our financial inclusion team, who have already helped customers increase their income by £2 million, signposting to support available, and provision of fuel vouchers to households experiencing fuel poverty."

The full trading update is available at:

https://www.homegroup.org.uk/media/bvihkudl/home-group-half-year-results-22-23.pdf

For further information, please contact:

Steve Hallowell

Director of Treasury and Investor Relations

M:  07736 097160

Email:  [email protected]