Riverside has moved back into surplus and improved its operating margin.

The 69,000-home association reported a surplus of £10.1m for the year to 31 March, up from a restated deficit figure of £15.2m the previous year. The group has previously cited challenges relating to its merger with One Housing, cladding remediation and the need to exit loss-making activities such as the Baycroft care business among the reasons for deficits in prior years.