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Housing Today
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Drop in sales income and impairment charge hits Gentoo’s margin and interest cover
Sunderland-based provider says ‘challenging market’ contributed to deficit on sales
Gentoo’s open market sales business has recorded a £5.4m drop in income and recorded a deficit.
The 28,000-home provider, in its annual financial statement for the year to 31 March, reported income from properties developed for outright sale of £23.4m, down from £28.7m the previous year. Open market activity reported a deficit of £3.5m in the year.
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