Affinity Sutton announces yearly surplus of £46m

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

Affinity Sutton Group has announced a surplus of £46 million in its annual report.

The Group generated the surplus on a turnover of £273 million.

The Group also reported resident satisfaction levels of 80.1% and that 100% of its 57,000 properties are meeting the Decent Homes Standards.

Affinity Sutton has pledged to build nearly 10,000 homes over the next 10 years.

Mark Washer, Group Finance Director, said:  “Our strong surpluses and reserves are essential elements of our determination to retain a strong financial profile and will be used to support our plans to build nearly 10,000 new homes over the next ten years.  

"With government grant funding for new affordable homes down to an average of just 12% strong surpluses and robust financial capacity are vital to support the significantly increased levels of funding we will need from the capital debt markets.”