Annual results 2024/25 customer story
Delivering great customer outcomes in a year of growth
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We invested more in our homes, communities and services last year, as we brought Pinnacle and Tower Hamlets Community Housing into the Hyde Group.
Our 2024/25 Annual financial results show we continued to invest in customers’ homes and communities last year, while maintaining a strong financial position, allowing us to grow significantly, with the acquisition of Pinnacle Group in October 2024, and Tower Hamlets Community Housing joining Hyde on 1 April 2025. This has been further complemented with our recent joint venture, Pinnacle Investments, a real estate investment manager.
“We spent nearly £124m improving the energy efficiency, safety and quality of our homes last year; more than ever before,” said Group Chief Executive Officer of the Hyde Group, Andy Hulme.
“And we spent more time in our neighbourhoods, responding to local needs. Our 5,000 plus colleagues actively engage with customers every day. We’re delivering better levels of service, more consistently, and ensuring customers’ homes are well maintained: about 95% of repairs are now carried out by our in-house teams, with most repairs completed in fewer than three days.
“More than 85% of customers are satisfied with our repairs service and more than 81% are satisfied with our overall services. We couldn’t do this without the hard work and dedication of our teams.
Listening to customers and acting on what they tell us
We’ve fundamentally changed how we’re organised over the past couple of years, to better meet customers’ needs and priorities, in response to their insight and feedback. We’re committed to ensuring customers feel informed and listened to, and for them to scrutinise and help co-create services.
This year, we were pleased to welcome ten new members to Customer Voice (our most senior customer group), who are more representative of our customers in age, geographic spread and tenure.
Customer Voice helped shape our service scrutiny framework this year, so customers can better influence our ways of working. Customers also helped us to develop our Customer Involvement Strategy, which sets out how we’ll deliver meaningful and accessible customer involvement and meet customers’ expectations, as well as those of the Regulator of Social Housing.
Supporting communities
We continued to help community organisations grow and maintain vital services, such as food banks, mental health services and youth support, to give people living in our communities better life chances. Hyde Charitable Trust awarded £1.2m in grants to our community partners and our supply chain partners delivered £27.5m in social value impact – nearly three times the impact of the previous year.
“Our suppliers play a critical role in supporting our communities, on top of the work they’re contracted for,” Hulme said.
“They provide jobs, apprenticeships, volunteer hours, mentoring, work placements and financial donations. They also spend money with small businesses, helping to boost local economies and support the voluntary sector.”
Our strong financial position
While our operating environment remains challenging, we’re in a strong place, financially, with group turnover increasing by 33% to £465.6m (2023/24: £350.9m). Pinnacle won more than £70m of contracts in 2024/25, and continues to provide service to local authorities, housing associations, the armed forces and commercial clients.
“Because we don’t pay dividends to shareholders and all our surpluses – including Pinnacle’s profits – are reinvested, we have more money to spend on homes and services and in our communities,” Hulme explained.
“We’ve brought in another 7,000 homes in management in the past year, so we now own or manage about 125,000 homes, and provide neighbourhood services to more than 350,000 homes across the UK.
“Our customers and communities are our passion and we’ll continue to have a local focus and to serve the people living in the homes we manage. We’ll listen – and learn – and strive to improve the quality of our homes and services, to deliver better outcomes for customers and communities.”