Amplius reports half-year surplus of £26 million and strong progress following merger

We’ve revealed a net surplus of £26 million for the first half of this year.

In addition, we’ve also announced an operating margin of 31 percent for the period to 30 September 2025.

Our surplus is up on the £24 million for the same period last year.
Yasmin Holley, Chief Finance Director, said the results demonstrate a robust underlying performance as the benefits of the merger begin to materialise.

She added: “We continue to demonstrate strong financial performance and remain on track to deliver ahead of budget for 2025/26.

“Our position is further strengthened by the progress we are making on integration. Team restructures are largely complete and will be finalised during the second half of the year.

“The successful implementation of our new HR and Finance systems has enhanced operational efficiency and financial control, and the approval of our new Treasury Strategy means we are now advancing plans for new funding to underpin our development pipeline and investment in existing homes.”

Moody’s recently affirmed our A3 credit rating, highlighting our resilience and effective management through the first year post-merger.

Turnover for the period was £147 million, reflecting a reduction in first tranche Shared Ownership sales compared to last year.

Core rental income and other operational streams remain stable.
We completed 140 new home sales and took handover of 380 new properties in the reporting period. We’ve also received nearly £20 million of additional funding from Homes England to build even more new affordable homes on mixed-tenure developments.

Investment in existing homes remains a priority, with nearly £50 million invested in repairs and improvements to maintain high standards of safety and quality. Rent arrears continue to be well managed at 2.21 percent.

Rob Griffiths, Deputy Chief Executive, added: “Our strong financial position allows us to maintain momentum in delivery.

“We remain focused on our ambition to build 1,000 homes each year, ensuring we meet housing need across our regions while investing in the safety and quality of our existing homes.  

“We welcome the recent publication of the Social and Affordable Homes Programme by Homes England, and we expect to continue to be a key delivery partner in the years ahead.

“We’ve also published the Amplius corporate plan, setting out our priorities for the next five years and the actions we’ll take to do more and go further for our customers.

“Together, these foundations position us well for the future.”

To read the full trading update, you can find it on our investors section of the website.