Restored to Full Strength
Published by keeley for Longhurst Group in Housing
Longhurst Group has been restored to ‘V1’ rating, the highest possible viability rating bestowed by the HCA.
The regulator had queried the strength of financial controls surrounding the Group’s ambitious development programme and the challenges faced by our care and support services. However extensive review of the Group’s business plan and financial forecasts alongside a rigorous programme of cost efficiencies has led to renewed confidence in the organisation’s capacity to mitigate risk.
“Over the past few months we have worked closely with the HCA in order to address the concerns raised and highlight the excellent safeguards we have in place to protect ourselves without compromising on the scale of our development plans.
We pride ourselves on the ambition of our growth agenda and intend to deliver 2,500 homes over the next five years. We recognise that this brings with it the need for tight controls which is why we ensure risk management is embedded across the Group. The continued confidence in our board is an excellent indication of the strength of our approach, and we look forward to the future buoyed by this recognition of the validity of our goals,” commented Bob Walder, Chief Executive of Longhurst Group.
Read the full regulatory judgement from the HCA here.