One of the UK’s largest affordable housing providers has reported an operating surplus after tax of £21.4m for 2011/12 from a turnover of £333m.
Circle, which is made up of nine registered providers and manages 65,000 homes, says it has steadily increased its operating margins over the past four years and has continued to deliver good surplus targets having removed any dependency on sales of existing assets.
It cites it £1.2bn repairs deal – the sector’s largest – as one of its key highlights which, it says, will produce savings of more than £100m over...
