Housing association sees turnover fall but a reduction in overall deficit
Birkenhead-based Magenta Living Housing Association has reported a fall in revenues for the year to March 31, 2023.
Its latest results show a turnover of £69.604m, down from £73.9m in 2022.
It also revealed an overall deficit of £1.140m, which was down from £8.489m the previous year, and an operating surplus of £1.969m, which was a reduction from an operating surplus of £7.407m in 2022.
However, the association said, with the cost-of-living crisis squeezing households, it has been proactive in reaching out and helping its most vulnerable customers with a series of cost-of-living roadshows which were hugely welcomed in the neighbourhoods it visited.
Partnership working to create social value within the association’s communities and create opportunities for customers is a key part of its approach, it said.
Magenta Living’s CEO, Debi Marriott Lavery, said: “This is my first year as CEO and I am delighted to present these positive reports – showing our resilience and ability to support our customers during what has been a very challenging and unpredictable time for everyone.
“We have worked towards making a positive impact on both the environment and the communities we operate in.
“We have implemented several initiatives to reduce our carbon footprint and promote social responsibility. We have been present in our communities offering advice, support and a helping hand including by partnering with some incredible local organisations and charities.”
She added: “As we move forward, we are excited to continue our journey with our customers and we remain committed to delivering innovative solutions, excellent customer service and a positive contribution to our local communities in whatever way we can.”
