Paradigm Housing Group's financial statements for the year ended 31 March 2024 

The annual report and financial statements have been published by Paradigm Housing Group and are available for viewing at:

https://www.paradigmhousing.co.uk/about-paradigm/our-performance/corporate-publications/financial-statements/

Paradigm Housing Group today reports a surplus of £20.6m and a strong operating margin of 35% for the full financial year ended 31 March 2024. 

Annual highlights: 

·      Completed 504 new affordable homes, with 88% of customers satisfied with the quality of their new home against a target of 85%, up from 77% last year. 

·      Secured 637 new plots with the pipeline now full to meet our five-year corporate plan target of 1,950 new homes by 2026. 

·      Invested £47m in home repairs and improvements, including over 38,500 repairs and replacing 1,352 key components (kitchens, bathrooms, windows, boilers and more) 

·      Improved the energy efficiency of our homes, with 71.4% of our homes now at or above an EPC C rating 

·      Delivered our first full retrofit to a scheme, improving its thermal efficiency to EPC B and reducing customers energy bills up to 50%.  

·      Increased our homes in management to 16,667 

·      Relet 441 homes to new customers 

·      Reduced four-week average arrears to 2.8% against our target of 3%. 

·      Achieved Best Companies 2* accreditation, demonstrating outstanding levels of staff engagement 

The Group surveyed 1,300 customers during the year and maintained our upper quartile performance with 79% of general needs customers and 55% of shared owners satisfied with our services. 81% of customers were satisfied with our repair services. Our Tenant Satisfaction Measures are published here: Annual Tenant Satisfaction Measures - Paradigm Housing. 

Nicola Ewen, Paradigm Housing Group's Chief Financial Officer, said: "The Group has maintained focus on its objectives despite the continued challenging operating environment. We have achieved upper quartile performance for customer satisfaction, staff engagement and financial metrics, continued to build new homes and invested significantly in our existing homes. We have upheld our reputation with our regulators, investors and lenders as we maintain our position as a financially robust organisation with substantial liquidity, covenant headroom, unencumbered assets and strong margins". 

Our complete annual report and financial statements can be found on our website here. 

ENDS 

For more information contact: 

Anne Michael | Head of Communications 

anne.michael@paradigmhousing.co.uk | 01628 811874  

About Paradigm Housing Group: 

Paradigm Housing Group is one of the leading providers of affordable housing in the South East, managing nearly 17,000 homes. We have grown over the last 35 years to become one of the largest social housing providers in the counties of Buckinghamshire, Hertfordshire and Bedfordshire.  

Our vision is to provide excellent services to customers and build new homes to help more people. We make sure our homes are safe and sustainable and strive to do more, by making the most of our resources.