A growing organisation with an A3 rating from Moody’s*; our extensive development programme will continue to increase the number of homes under our management year on year; however we remain alert to opportunities to grow through other means. We are open to approaches from others looking to join a Group such as ours.
The London Stock Exchange information on the Libra Treasury entities can be found here:
- Libra (Longhurst Group) Treasury plc - LSE listing
- Libra (Longhurst Group) Treasury No 2 plc - publication of prospectus
- Longhurst Group credit rating*
- Libra (Longhurst Group) Treasury plc credit rating*
- Libra (Longhurst Group) Treasury No 2 plc credit rating*
- May 2018 – Investor Presentation
3,000+ homes within five years
Alongside the government’s housing budget our independent funding arrangements are critical in ensuring we deliver over 3,000 new homes within five years. With this in mind we have made changes that leave us well placed to secure new funding, resource our contingency planning and identify investment opportunities.
Our robust and comprehensive approach to risk management underpins all of our business objectives. In 2013, we were the first registered provider to implement a comprehensive Group-wide contingency plan. Stress testing of this contingency plan is now complete and our asset and liability registers are in place and reported to the Group’s Audit and Risk Committee. Our integrated financial system enables us to:
- Plan in great detail
- Validate our assumptions
- Employ complex and multiple scenario testing
- Set financial targets for management.
Our V1G1 viability and governance status given by the Regulator of Social Housing (RSH) demonstrates their confidence in our ability to mitigate risk, whilst developing substantial numbers of new homes. The RSH completed an In Depth Assessment (IDA) of the Group in early 2017.
In line with the rest of the sector, we are working hard to demonstrate our commitment to value for money. We can evidence a holistic approach to value for money that takes account of cost, efficiency, social value and outcomes through our Value for Money Strategy.
Despite the challenges facing the housing market and the wider economy, our business thrived, demonstrating a strong performance in both social housing lettings and shared ownership sales. Longhurst Group continues to experience healthy growth and the consolidated financial results for 2017/18 demonstrate:
- £7.5 million increase in operating surplus
- £17.0 million net surplus for the year
- 36% Operating Margin.
Our 2017 Business Plan sets out plans for growth, excellence and responding to the challenges we face in the sector. Our strategy for excellence remains firm and our key targets and objectives include maximising return on existing services and exploring new income streams.