Metropolitan Thames Valley Housing’s operating surplus, after accounting for net building safety and non-recurring costs, fell by 84% to £17m, down from £109m in the previous financial year.

The audited accounts for the 2023/24 financial year confirmed that Metropolitan Thames Valley Housing (MTVH) posted a post-tax loss of £80m, compared with a surplus of £33m the year before.

During the 2023/24 financial year, MTVH’s board decided to provide £110m in its accounts for net building safety and non-recurring costs, a reduction from the £199m recorded in 2022/23.