Amplius said it will report a 161% increase in its surplus in its first accounts since it was formed last December.

In an unaudited update, the 38,000-home group, formed through a merger of Grand Union Housing Group and Longhurst Group, said its surplus for the year to 31 March will be £34m. This is up on £13m the previous year, on a pro forma basis (meaning it has combined the accounts of Grand Union and Longhurst pre-merger to provide a comparator).