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Our financial results

Welcome | Delivering quality services | Increasing capacity | Building more homes

 

Hyde’s underlying surplus was £95.4m in 2015/16, an increase of £14.8m from 2014/15 (£80.6m restated). A significant proportion of this was generated by sales activities, helped by the buoyant housing market.

All of our surplus is reinvested in our core business of providing affordable homes and services for current and future residents. In fact, in each of the last five years, the amount we have invested in improving existing homes, and delivering new ones, has been significantly higher than the surplus.

You can view and download our financial statement for 2015/16.

 

  • Operating margin

    Our operating margin was 31% in 2015/16, the same as 2014/15 (the average for the G15 was 30%), reflecting our efforts to be more efficient. This will enable us to cover our day-to-day running costs and interest payments on borrowing, without relying on sales.

  • Return on assets

    Our return on assets (measured as surplus before interest and tax) rose to 9.8% in 2015/16 from 9.1% in 2014/15, due to larger profits (the G15 average was 5.0%).

  • Housing management costs

    Housing management costs fell to £818 per home in 2015/16 from £864, consistently below peer average. This fall is due to savings made in housing management.

  • Maintenance costs

    Hyde’s maintenance costs per social housing unit fell to £884 in 2015/16 from £953, as well spent less because of contractor efficiencies. Costs remain significantly lower than the G15 peer group.

  • Overall cost per social unit

    Hyde’s overall cost per social housing unit was £3,176 in 2015/16, lower than the previous year because of housing management and contractor efficiency savings.

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