GreenSquareAccord has published its financial statements for the year ended 31 March 2024 and they are available here
Headline results are as follows:
· Operating margin of 20.2% (2023: 8.2%) and surplus before tax of £3.9m (2023: deficit of £28.6m) demonstrated a significant improvement and stabilisation in GSA's financial performance in its third year of trading since merger.
· Operating surplus of £51.7m on turnover of £230.5m is more than double the prior year figure which included £18.8m of non-recurrent costs.
· EBITDA MRI interest cover rose from 55% to 83% (Regulator for Social Housing VfM metric)
· Increased investment in existing homes of £22m (2023: £11.4m) reflects the increasing pace and scale of the Group's programme to improve stock quality.
· The Group handed over 463 new homes in the year, bringing the average new homes delivered per annum in the three years since merger to 500.
Further information is available on the GSA website.
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