Barking and Dagenham Council’s housing developer, Be First, reported a pre-tax profit of £8.5m for the financial year ending March 31 2023, up from £3.5m in 2022.

Newham council’s wholly-owned housing company Populo Living has also “remained resilient” this year, with its gross profit increasing from £3.2m in 2021/22, to £4.5m in the 2022/23 financial year.

Be First’s financial report for the year stated that it has increased its profit as a result of “resilient strategies” that management employed, including reviewing its staffing structure to improve its “effectiveness and efficiency”.

The report added that Be First has strengthened its processes internally and between Be First and Barking and Dagenham Council.