Hyde Group: 'fit for purpose and well poised for future'

Published by Max Salsbury for 24dash.com in Housing and also in Development

The Hyde Group's CEO told staff and residents at its annual meeting that the group is fit for purpose and well poised for the future.

Steve White, Group Chief Executive, said that Hyde had undergone a year of tremendous transformation.

He told 180 staff and residents how the housing association had changed the way it is structured, and how it serves its residents, in the face of financial challenges.

Mr White predicted that some housing associations would struggle with lower levels of government funding, welfare reforms and banks' reluctance to lend

He said: “Some will struggle. Others will survive, but stop building new homes as they conserve their cash. But a minority will adapt and continue to build and invest: Hyde is such an organisation.

"This is because we’re financially strong and are improving our performance. We’re now leaner and more cost-effective, have an engaged resident population and we’re sector-leading and award winning.

Our ambition to build more homes, invest in existing stock, deliver excellent services and make a lasting difference to people’s lives is stronger than ever."

Hyde has reported a surplus of £13.8m on last year's turnover of £229m.

The Group also announced a £121m investment in 900 new homes, 726 of which are affordable, plus a £56m investment in existing homes.

Julie Hollyman, Group Chair, said: “This time last year I said Hyde was in good shape, and my optimism was not misplaced – we’re in even better shape now.

"We’ve achieved much this year, but as we all know, change is the only constant, so we won’t stand still. We will raise our game, making the best use of every pound as we continue to provide quality services to our residents."