Stonewater reported an operating surplus of £35.6m for the six months ending 30 September, which is £5.6m lower compared to last year’s half-year financial results.

Stonewater’s operating surplus decreased due to lower revenue from sales of shared ownership staircasing units, along with an increase in staffing, repair and maintenance and service charge costs, and inflation.

In its half-year unaudited financial results released today, chief financial officer Anne Costain stated that first-tranche shared ownership sales increased compared to the same period last year.