Clarion has increased its surplus by 52%, following a near doubling in market sales turnover and the sale or transfer of 2,000 homes to other providers.

The 109,000-home housing association, in its financial statement for the year to 31 March, reported an overall surplus of £186m, up from £122m the previous year.

The surplus was boosted by a near doubling in turnover from open market sales from £87.7m to £157.3m, which helped surplus from sales increase from £1.6m to £15m.