Metropolitan Thames Valley Housing (MTVH) has reported a 33% drop in its annual surplus

The 57,000-home association, in its financial statement for the 2021/22 financial year, reported post-tax surplus of £40m, down from £61m the previous year. Its turnover fell 9% to £406m.

The group’s surplus was impacted by several factors including £12.9m in one-off costs relating to a fire on its Worcester Park estate near Morden in south west London. In October 2019, a four-storey block in the Hamptons estate burnt down and MTVH has since restored the block and remediated others on the same estate.