Housing association drives revenues but falls short of post-tax surplus target

Liverpool housing association, Plus Dane, has beaten its annual revenues target for the year 2023-24, but failed to hit its surplus target.

The latest figures reveal the group, which employs almost 600 staff and has more than 13,500 homes across Merseyside and Cheshire, hit revenues of £87.4m, which compares with a target of £86.6m. The 2022-23 turnover was £84.7m.

And while the group posted a post-tax surplus of £2.9m, which was an upturn compared with the 2022-23 deficit of £4.4m, it fell short of the target for a £3.3m surplus this year. 

The operating surplus was £18.9m, which was better than the £18.8m target and compares with the previous year’s £8.7m figure.

During the reporting period, the housing association built 159 new homes, with a further 277 starting on site. It completed nearly 50,000 repairs, compared with 47,525 the previous year, and revised its damp and mould procedures following customer feedback.

Chief executive, Ian Reed, said: “This year has been a year of some change as we strive to improve the services we provide and the way in which we deliver, and invest more in our homes.

“I am positive about the changes we are making and can already see small improvements which I expect will show some positive change in our performance from next year.

“I was pleased to welcome three new directors into the organisation, who have been working hard to transform the services we provide to customers.

“I am confident we have a joined-up plan of action for what we want our services to look like which has been driven by the views and needs of customers. We have already implemented some significant changes and can see results which I expect will show some positive uplift in our performance from next year.”

He added: “This is the first year that we are reporting our tenant satisfaction measures. While performance is not within target on many of the measures, we have seen improvements in most areas since we started measuring these in April 2023 so I am hopeful we are moving in the right direction.

“It is pleasing that we have maintained strong performance in keeping customers safe in their homes, completing almost 100% of all safety checks and measures we are required to take.”

And he said: “I’m also incredibly proud about the levels of support our teams have provided to customers this year – we responded to over 2,000 requests for our support services, which is a signal of the tough times we are living through.

“We were able to secure £2.6m of unclaimed benefits for customers which will have a lasting impact for those families, helping them to make ends meet. You have a commitment from me and the team that we will continue to work over the next 12 months to improve the experience to make it easier for you when dealing with us.”

In August the business announced that it had acquired the former HQ of dry cleaning and dye works group Johnson, for an undisclosed sum, to create new homes in the heart of north Liverpool’s Bootle district.

Developer, Ascot Group, sold the site to Plus Dane Housing, which is planning to build 104 new homes on the land, comprising a mixture of family homes and apartments in the imposing converted former headquarters.

The £22m scheme is to be partially funded by the Liverpool City Region Combined Authority and Homes England.