The 25,000-home housing association has reported a before tax surplus of £7m in the first quarter of the financial year, which it says is consistent with the budgeted surplus.

Great Places reported that its drawn debt, excluding bond and loan premiums as well as loan fees, was £652m, increasing £19m in the quarter due to £20m in revolving credit facility loan drawdowns and a small scheduled debt repayment.

In its quarterly performance update for the period ending 30 June 2024, Great Places reported £30m of cash held and undrawn revolving credit facilities of £405m.