Housing association Bromford saw its surplus fall in the year to March 2023 and narrowly missed its building target in a year of “significant challenges.”

Announcing its financial results for the year, Bromford said the drop in surplus came despite the fact its turnover rose to £290m, an increase of £6m from 2021.

The housing provider narrowly missed its target of building 1,289 homes, despite investing £225m, £45m more than in the previous year, in its new homes programme.

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