Moat reports squeezed margins and lower surplus

2024-08-21T11:16:00

23,000-home association misses annual development target

Moat Homes has reported a drop in surplus and turnover, as its social housing lettings margin fell sharply.

The 23,000-home association, in its financial statements for the year to 31 March, said its surplus more than halved form £45.9m to £20.9m. Its operating surplus, which excludes one-off costs, fell from £61.7m to £44.6m.

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