In a period that has seen the housing sector face unprecedented demands and significant changes, Midland Heart has continued to deliver a robust set of operational and financial results.
Despite this increasingly challenging operational and macro-economic environment, Midland Heart have reported an annual turnover of £221.1m, an increase of £14.1m on the year previous, as well as a total surplus of £40.7m. This surplus has been invested in their homes, with £97.5m invested in new developments and an additional £20.7m invested in improving the organisation’s current stock.
Midland Heart’s financial resilience has allowed them to continue to invest in customer and digital services, front-line operations, new and existing homes, building safety and energy performance.
Highlights of this year’s financial and operating report include tenant satisfaction scores of c.90% and full building safety compliance across their portfolio of c35,000 homes.
The organisation has also reported that it has maintained both its G1/V1 governance and financial viability rating from the regulator and strong investment grade A1 rating with a negative outlook from Moody’s Investors Services.
While there is always more work to do, Midland Heart is an organisation that looks to the future in strong financial health and operational clarity; with a sharp focus on delivering quality homes for their tenants.