Hyde Group financial results for the year ending 31 March 2026

Our latest financial results show how we are continuing to improve customer outcomes, to form new partnerships to deliver more homes, and to grow – all supported by our strong financial position.

Group revenue increased to £992.3m and turnover grew to £634.9m, in the first full year of trading since Pinnacle Group and Tower Hamlets Community Housing (THCH) joined Hyde.

The addition of Pinnacle, THCH, and a number of new contracts means we now own and/or manage around 130,000 homes (an increase of nearly 12,000 since 2024/25) and provide neighbourhood services to around 350,000 people.

We continued to make record investment in the homes we own and communities we serve. We also saw continued improvements in operational performance, with a focus on repairs and major works. Together, this resulted in improved customer outcomes.

The Group returned an operating surplus of £70.6m net of the strategic growth decisions we’ve made in new partnerships, and in welcoming THCH and Pinnacle Investments to the Group. Our core social housing activities delivered an increased operating surplus and margin of £83m and 22.3% respectively.

Pinnacle Group is fully embedded and continues to perform well as part of our end-to-end offering. This year, Pinnacle took on more homes for L&G Affordable Homes and other for-profit registered providers; won its first housing management contract with Manchester City Council; and added three more local authorities to its portfolio. All of Pinnacle’s surplus is gifted back to the Group, so that it can be reinvested in the homes we own and communities we serve.

Andy Hulme, Group Chief Executive Officer of the Hyde Group, said: “Colleagues have worked hard to deliver another year of improved outcomes for the customers and communities we serve. Our core social housing activities have performed well, with record investment and more than 200,000 repairs delivered, most in less than two days.

“We now operate in all London Boroughs and provide services in more than 300 local authority areas across the UK. This has been helped by Pinnacle, which has continued to grow since it became part of Hyde in 2024.”

THCH joined Hyde on 1 April 2025, with the integration completing in September 2025. As a result, THCH customers are now enjoying faster, more reliable and better value services. We’ll be investing more than £60m over the next few years to improve their homes and communities.

We were pleased the Regulator of Social Housing affirmed our G1 and V2 ratings, and gave us the highest C1 consumer rating, following our first assessment against the new standard in early 2026.

Andy said: “Our C1 rating shows we’ve remained absolutely focused on putting our customers first, providing safe, decent and affordable homes, and serving communities people can be proud of, during this period of growth.”

We continue to deliver new homes targeted at social rent and first-time buyers (typically through shared ownership) with 1,142 homes handed over last year, 985 of which were affordable. We also started construction of 666 homes.

In March 2026, we announced a 50/50 partnership with Legal & General, launching with a portfolio of more than 1,000 social rented and shared ownership homes, with the ambition of further significant joint investment.

Mike Kirk, Chair of the Hyde Group, said: “It’s been another great year and I’m pleased we’ve continued to focus on our customers – both new and existing – during this time of growth. Customer satisfaction increased to 83.5% as we continued to invest in their homes and services. Last year we spent more than £130m maintaining, repairing and improving homes.”

Andy added: “By 2030, we want to be the best, and most diverse, housing, property and community services provider in the UK. Our vertically integrated offer spans housing investment, development, landlord services, community services and property management at scale across the country.

“There’s still much that we want to achieve. There are exciting opportunities within our communities, and the breadth of our customer and client offer gives us confidence for the next phase of our plans. We’re far from complacent, and we will continue to strive to deliver better outcomes for our customers, communities and clients.”

Financial results 2025/26

¹A full reconciliation from our core operating margin to statutory operating margin can be found in our Annual Report (Sharepoint)

²Per Regulator of Social Housing sector scorecard.

Highlights

• Group revenue of £992.3m (2024/25: £573.7m) through growing our core social housing business and improving operational performance.
• Group turnover of £634.9m (2024/25: £465.6m) with growth from a full year of trading from the Pinnacle and THCH acquisitions.
• Hyde Housing: Operating surplus increased to £83.1m (2024/25: £72.2m), and operating margin increased to 22.3% (2024/25: 21.8%), as we continued to drive operational efficiencies.
• Investment in homes: We invested £134.2m on maintaining, repairing and improving homes (2024/25: £123.8m).
• Investing in excellent customer service: Overall customer satisfaction was 83.5% (2024/25: 81.4%) and satisfaction with repairs was 84.6% (2024/25: 85.6%).
• Building more affordable homes: We handed over 1,142 homes, 984 of which were affordable (2024/25: 602), and started 666 homes (2024/25: 519).
• Institutional partnerships:
• Launched our 50/50 partnership with L&G with a portfolio of more than 1,000 social rented and shared ownership homes.
• We continued to build on our partnership with M&G which bought 211 shared ownership properties that we’ll manage on its behalf.
• Housing property assets: Housing assets (based on historical cost) increased to £3.52bn (2024/25: £3.53bn), investing in, and building, homes.
• Debt and liquidity: Net debt reduced to £1.52bn (2024/25: £1.57bn). We increased our liquidity of £954m (2024/25: £775m) on our bank facilities.
• Sustained low cost of debt and low gearing: We continued to maintain a low weighted average cost of debt at 3.9% (2024/25: 3.9%), with 80% at fixed interest rates, providing long term stability. Gearing remains low, at 44.1% (2024/25: 45.0%), based on historical asset costs.
• Supporting communities: Our supply chain partners delivered £14.8m in social value (2024/25: £27.5m) and we supported 28,674 people (2024/25: 23,458) through Hyde Charitable Trust grants of £0.97m (2024/25: £1.2m).
• People: We employ around 5,500 colleagues. Our strategy and culture of inclusive leadership and diverse teams, means we deliver better outcomes for customers. The median gender pay gap was 2.9% (2024/25: 1.1%).

Download a copy of our Annual Report and Financial Statements 2025/26 on Sharepoint.