Yorkshire Housing has reported a drop in its annual surplus as its operating costs rose and shared ownership sales and disposals slowed.

The 19,000-home provider, in its annual financial statement reported a surplus of £6.2m, down from £10.4m the previous year. The group was impacted by an extra £4.4m in interest costs. Its operating expenditure minus one-off costs rose slightly from £33.8m to £34.7m.

Nick Atkin, chief executive of Yorkshire Housing, in his forward to the accounts re-iterated his call for a cut to interest rates to boost development.