Orbit Group Limited reported its unaudited financial results for the six months to 30th September 2025, posting a group turnover of £193.3m, slightly above the budgeted £190.3m, but down on last year’s £196.0m.
Operating surplus for the period came in at £48.4m, almost in line with the £48.3m recorded last year.
Surplus for the year so far stood at £18.8m compared to £18.7m for the same period in 2024.
During the period, Orbit completed 353 new homes, short of the 379 target, with 316 classed as affordable.
The group retained its G1 for governance and V2 for viability ratings from the Regulator of Social Housing.
It also kept the Home Builders Federation (HBF) 5-Star housebuilder rating for a second year.
Despite higher costs and tough economic conditions, group turnover and operating surplus excluding asset sales were both a touch above budget.
Operating surplus percentage was 21.6%.
Rental income stayed strong, and empty homes were well managed, with losses better than budget. Sales of fixed assets were slightly below target.
Orbit continued to deliver its 2030 strategy, investing in technology, data and staff.
The Everyday Excellence Programme saw the rollout of a new neighbourhoods and communities model, with each customer now having a dedicated neighbourhood manager.
The community investment and successful tenancies team was reshaped to provide more support.
There was also a new voice of the customer strategy, updated customer segmentation and a new later living strategy aimed at improving standards for customers over 55.
Additionally, the group increased new build and regeneration commitments to 7,000 homes by 2030, aiming for 60% direct build and more affordable tenures.
It invested £59.4m in its homes during the period, up from £57.7m last year.
88.2% of homes now meet energy performance certificate (EPC) band C or above.
Housing fixed assets stood at £3.40bn, up from £3.23bn.
Net debt totalled £1.73bn, with £0.44bn in available liquidity.
Jonathan Wallbank, group finance director at Orbit Group Limited, said: “Orbit continues to hold a financially robust position, whilst balancing investment in its existing homes, building new affordable homes and working to enhance its customer experience and support.”
Phil Andrew, group CEO at Orbit Group Limited, said: “Whilst the sector continues to face pressure on costs across the board, we remain committed to investing in customers’ homes and our services, and in delivering further progress against our 2030 Strategy.
“Our financial performance remains strong, and we are confident we continue to provide the strong and resilient foundation from which we can be a more consistently great social landlord for our customers.”
