Latest RNS update

Karbon Homes in talks to form a partnership with Leazes Homes

Affordable housing provider Leazes Homes is currently part of the Your Homes Newcastle group and is planning to become a subsidiary and transfer the management of all of their homes to Karbon Homes in July 2024.

Quick overview

We build, manage and look after homes for people across the North

  • 31,771 homes owned and managed
  • Rated G1/V1 from the Regulator of Social Housing
  • External credit rating of ‘A’ (positive) with S&P Global
  • Strong ESG foundations,  with three years of reporting our ESG performance using the Sustainability Reporting Standard for Social Housing
  • Proven track record of successful merger and stock acquisition integration, with sustained financial performance
  • Homes England Strategic Partner with £165m grant funding to help deliver 2,200 new social and affordable homes to 2026 
  • Low risk business model with a focus on core social housing and low exposure to market sales risks. Turnover form social housing lettings represents 87% of total group turnover.

Top level metrics

Key financial metrics £m 2022/23 2021/22 2020/21 2019/20
SH Core turnover 138.2 128.5 114.6 113.2
Sales and other turnover 27.4 26.7 27.8 22.7
Turnover 165.6 155.2 142.4 135.9
Cost of sales and other Op. costs (19.1) (17.8) (20.6) (17.7)
SH Core Operating Costs (102.9) (97.2) (84.8) (83.9)
SH Core Operating Surplus 35.3 31.3 29.8 29.3
Operating surplus 43.6 40.2 37.0 34.3
Surplus on disposals 3.3 3.8 1.6 4.3
Net interest cost (17.8) (19.6) (19.2) (16.8)
Tax and Other * 54.4 11.3 2.7 0.3
Surplus
83.5 35.7 22.1 22.1

*Includes negative goodwill of £53.5m (2022/23) and £8.5m (2021/22)

If you'd like to talk to us about investor relations, please contact:

Andrew Thompson, Assistant Director Treasury

andrew.thompson@karbonhomes.co.uk

0191 223 8700