Bromford Housing group’s turnover increased by 8% to £314m in the previous financial year to 31 March 2024, while operating costs rose by over £20m (12%) due to higher repair volumes and additional expenses to tackle condensation, damp, and mould cases.

The group noted that the £24m increase in turnover was offset by higher maintenance and major repair costs of £9m, bad debt expenses of £3m and pay award of £2m due to a staff pay rise.

Bromford’s turnover from social housing lettings rose from £239 million in the 2022/23 financial year to £266 million. The group stated that social lettings remain “the core of our business,” accounting for 85% of the group’s turnover, up two percentage points from the previous year.