Group underspends on stock improvments following concerns over delivery capacity
Aster Group has reported increased turnover and surplus.
The 38,000-home provider, in an unaudited update for the year to 31 March, reported a 2.3% increase in annual turnover from £329.8m to £337.4m.
The group said its pre-tax surplus for the year was £46.6m, up on the £11.7m reported the previous year, when its figure was impacted by a £29m one-off pensions cessation cost.
Its operating surplus excluding impairment and the pensions cost increased from £80.6m to £89.8m. The provider increased its surplus from asset sales, including disposals and staircasing, from £261m to £39.2m.
Aster said it invested £117.3m in improving existing stock, which was £10m below budget due to the spend being reprofiled. It said concerns around delivery capacity required “a restructuring of team resources and the introduction of more robust processes”.
The group increased its spend on damp and mould by 10% to £4.3m.
Aster said its completions are similar to the previous year with 978 homes built compared to 984.
Aster’s full, audited, financial statements for 2025/26 will be published later in the year.
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