Firm wants to build more than 2,000 homes in full year

Clarion has increased its development of new homes by 53%, the firm has said in its latest figures.

The 125,000-home housing association completed 1,246 homes in the nine months to 31 December, up from 811 for the same period the previous year. The association has a target to build 2,161 in the full year.

The unaudited figures also show Clarion increased its turnover from £720m to £807m and doubled its pre-tax surplus from £51m to £105m.

clarion

Clarion’s income for the nine month period was above the £800m mark

It said the increase in surplus has been driven “by focussed cost control and a return to the inflation linked rent formula after the previous year’s below inflation increase, along with an increased surplus on disposals”.

Clarion’s spend on new homes also dipped in the nine months to 31 December, with £349m invested compared to £380m the previous year. It said this was due to some later starts on site.

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