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Trusted media brand of the Chartered Institute of Housing
Trusted media brand of the Chartered Institute of Housing
Revenue and underlying operating surplus up but housing association hit by higher non-recurring and fire safety costs
Metropolitan Thames Valley Housing has reported an £80.2 pre-tax deficit in its unaudited financial results for the 2023/24 financial year.
The 57,000 home-housing association incurred non-recurring and fire safety costs totaling £110m in the previous financial year.
The bulk of these expenses, amounting to £64m (non-cash), were linked to addressing fire safety issues in blocks owned by leaseholders, exceeding 11m in height. Additionally, £32m (non-cash) was attributed to the write-down of two decommissioned tower blocks in North London which are “end of life”.
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