Firm sees turnover top £1.2bn
Places for People (PfP) has increased its turnover by 17% to become the largest housing association in the UK by turnover.
The 270,000-home provider, in its financial statements today, reported turnover of £1.23bn, up from £1.06m the previous year.
The figure is higher than those posted by other giant housing associations in recent weeks and means PfP will leapfrog L&Q, Peabody and Sanctuary.
The group, which in the year merged with Elim Housing and South Yorkshire Housing Association boosting its stock by 6,300 homes, increased its operating surplus excluding one-off items from £204m to £244.7m.
Its overall surplus fell by £211m to £164m due to one-off items relating to the two mergers being lower than those from a merger with Origin Housing recognised the year before.
PfP completed 2,539 homes in the year, up from 2,296 in the previous period and the provider’s highest total since 2020. It doubled its shared ownership completions to 763.
In April, PfP announced a joint venture with Barratt Redrow to deliver the 8,500-home Gilston new town in Hertfordshire.
Source: Building.co.uk