Housing group posts record results


A housing group that owns and manages more than 21,000 thousands of homes across the Midlands and East of England – including Boston – has posted record financial results.

Longhurst Group, cut operating costs by £4.62 million during the 2016/17 financial year, while generating savings of £1.8 million.

An overall surplus of more than £17 million before tax was also achieved, as well as an underlying operating margin of 36.38 per cent; a seven per cent increase on the last financial year.

The Group also added 400 new homes to its portfolio and invested more than £30million into its affordable homes programme.

Although the Group’s turnover reduced slightly, sales performance saw the margin on new sales increasing from 19.9% to 29.9% and generating a surplus of £2.8 million.