Housing association was created from merger of Settle and Paradigm
Lifestone Homes has recorded an improved surplus in its first half-year trading update since it was created from the merger of Settle and Paradigm last October.
The 31,000-home provider made a turnover of £152m in the six months to 30 September 2026, below Settle Paradigm’s combined £211m for the equivalent period the year prior.
The unaudited results, which include the impact of roughly 3,500 homes in South Buckinghamshire acquired from L&Q at the beginning of the year, put surplus for the period at £24m, up from £13m.
Lifestone spent £59.5m in completing new homes during the year, delivering 317 new homes. It also invested £51.4m.
EBITDA MRI interest cover stood at 128.1%, compared with 99.9% in the equivalent period.
“Our priorities are integration, investment in existing homes and new affordable housing,” said Anne Costain, interim chief financial officer.
“Rental income and sales supported first-half earnings, while inflation and financing costs remained common external pressures across the sector.
“We remain focused on delivering the merger and acquisition objectives, whilst ensuring the investment in our homes is prioritised.”
Lifestone last week announced the appointment of Peabody’s deputy chief executive and former Chartered Institute of Housing president Elly Hoult as its new chief executive. She will take over from next April.
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