Turnover stable but new home completions and starts drop

The Guinness Partnership’s surpluses have increased on stable turnover in its latest interim results.

Half-year figures for the six months to 30 September 2025 showed operating surplus increased from £55.1m to £61.4m, while total surplus also increased marginally, from £16.4m to £17.8m.

Guinness Partnership

This came on stable turnover of £261.8m, compared with the £261.4m recorded in the same period the previous year.

EBITDA-MRI interest cover has dropped to 98.7%, from 111.5%, while investment in and maintenance of existing homes totalled £109m, up from £99m.

The housing association invested £97m in new homes, completing 462, all of which were affordable. This was down from 567 in the same period the previous year.

>> Read more: The Guinness Partnership reports deficit and misses completion targets, citing impairment charges and contractor failure

New starts on site dropped even more precipitously, down 73% from 347 to 95.

In March this year, 5,000-home provider Shepherds Bush Housing Association was folded into Guinness.