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First online only annual review reveals £37m surplus for social landlord

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First online only annual review reveals £37m surplus for social landlord

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

First online only annual review reveals 37m surplus for social landlord First online only annual review reveals 37m surplus for social landlord

Image: Housing via Shutterstock

Southern Housing Group (SHG) has released its first online only annual review, revealing a £37 million surplus for 2013/14.

The report shows that over the period the group completed 256 new homes and purchased 411 existing units from other registered providers, while disposing of 230 units of out-lying stock as part of our stock rationalisation programme.

SHG has also provided tenants with a range of additional services, including helping people to get online, manage their money and find work.

This year its southern works programme support 179 residents to access training, volunteering and work placements, and celebrated helping its 250th tenant into work since the programme began in July 2011.

Group chief executive Tom Dacey said: "With the continued changes in the housing sector, the group needs to evolve to continue to be successful. Part of this is becoming more commercially aware and positioning ourselves as ‘A business with social objectives’ and our new corporate strategy reflects this.

“Securing our A1 Moody’s rating and subsequently raising £175m on the bond market will help us to continue building homes for those who need them in an environment where public subsidy is now very scarce. Proving our financial viability will allow us to continue our development programme in years to come.

“Our social and economic regeneration department also continues to provide invaluable support and encouragement for our residents through a great range of initiatives encompassing training, money management, digital inclusion and preparation for work.”

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