Platform Housing Group Limited reported its results for the half year to 30th September 2025, showing social housing lettings turnover up 6.8% to £158.7m compared to £148.6m last year.
Shared Ownership sales turnover was £16.1m, down from £28.9m.
Total turnover stood at £188.8m, similar to the £189.6m reported last year.
Operating margins were 24.7%, lower than last year’s 26.3%, due to higher maintenance costs as the group cleared a backlog of jobs.
Customer satisfaction was up to 85% from 80%.
Arrears dropped to 2.8%, compared to 3.2% last year.
Platform kept its A+ / A+ ratings with S&P and Fitch, with Fitch reaffirming the rating just after the half-year.
Additionally, the group also kept its G1 / V1 governance and viability ratings with the regulator for social housing.
Elizabeth Froude, CEO at Platform Housing Group, said: “In this half-year it is pleasing to report that our performance continues to demonstrate strength and stability, improving outcomes for our customers whilst maintaining financial metrics.
“Our solid financial outturn was underpinned by strong revenue growth in our core lettings business, declining arrears and a reduction in vacant homes, which in turn supported interest cover and gearing ratios.
“We continue to invest in existing homes, which has put some pressure on our operating margins.”
Froude added: “The focus of this investment in the half-year was on accelerated repairs expenditure to create capacity to support compliance with Awaab’s law, which went live shortly after the period-end, and our new ‘book-a-repair’ service, which gives our customers a truly self-select repairs service.
“Over 1000 repairs have already been booked via this channel so far.
“Development of new homes is nearly 50% ahead of the equivalent period last year, which reflects the high levels of starts over the last 18 months.”
She said: “Homes completions remain on target to deliver budgeted numbers, and we continue to see robust demand for our shared ownership first tranche sales, our only product with open market sales exposure.
“Our £250m Sustainability Bonds issuance shortly after the half-year marked another successful engagement with the credit community and I thank our investors for their on-going support in what I hope they agree to be a solid investment.”
