bpha today (29 November 2019) released its half year financial report results for the six months ended 30 September 2019.
The report shows that bpha is continuing to maintain a strong financial performance, with a social housing lettings operating margin of 42.4% (Sept 2018: 42.8%) which is in the upper quartile for the sector.
It also outlines bpha’s sustained investment in new affordable homes having built 410 since the beginning of the financial year, in addition to investing £11.6m in existing assets.
Julian Pearce, bpha’s Chief Financial Officer, said:“We have maintained our strong financial performance in the first half year for 2019/20 enabling us to continue meeting the growing affordable housing need, despite a challenging market environment.
“Our social housing operating margin remains strong, we have recently had our long-term credit rating of A+ reaffirmed evidencing our excellent liquidity position, and have also maintained our top Governance and Financial Viability gradings of ‘G1’ and ‘V1’ following our second regulatory ‘In Depth Assessment’.
“All this has been achieved against the backdrop of some sound and sustainable financial management, which puts us in an excellent position to continue providing our core services to customers and investing in new homes across our operational area, the Oxford to Cambridge growth arc.”
The bpha group half year financial report is available online at www.bpha.org.uk/investor-relations.