Aster Group reported a ‘strong year’ achieving a turnover of £314m, up from £301m in the previous year, however, its pre-tax and operating profit both dropped.

The 37,000-home housing association’s pre-tax profit dropped by over 25%, from £55.3m in 2022/23, to £41.1m at 31 March 2024.

The drop in its profit before tax is due to an increase in interest costs of almost £6m, £1.1m in joint venture losses and £3.1m in impairment costs for homes under construction.