A2Dominion posted a £116.4m surplus for 2024/25 after a deficit of £21m the previous year, according to its Annual Report & Accounts 2024/25.
Turnover rose by 5.5% to £421.5m, with the group’s underlying financials improving, helped by a large sale of temporary accommodation to Westminster City Council that brought in £102.2m.
This was part of a plan to focus on core services.
A2Dominion invested in service upgrades, including new repairs-tracking technology, faster lift maintenance and a refreshed customer and community strategy.
Cost-saving has started to steady operating costs, despite market pressures on property values.
A2Dominion also focused on retrofit, regeneration and redevelopment in high-need areas, and delivered 925 new homes across tenures.
This included key worker housing in Oxfordshire and more regeneration at Green Man Lane in Ealing.
Key highlights included 38,000 plus homes in management, 70,000 plus customers, £19.6m generated in social value, £11.4m in financial support to customers, £185.7m operating surplus, and £1.1bn of net assets.
The group kept its Fitch A credit rating and completed over 100,000 repairs, with 71.5% of residents giving a rating of eight out of 10 or above for repairs.
£40.2m was spent on day-to-day repairs and empty homes, and £50.3m has been invested so far on fire remediation.
Ian Wardle, CEO at A2Dominion, said: “Our return to profitability marks an important milestone, but it’s just the start of our journey.
“We have sharpened our focus on core services, investing in faster repairs, and stronger resident involvement to create lasting change.
“There’s still work to do, and we’re committed to steady, year‑on‑year progress so that we ensure everyone has a home they love with A2Dominion.”
