Our financial statements

We have published our financial statements for the year ended 31 March 2023 reporting a surplus of £17.8m and a strong operating margin of 39%.

The group, which has more than 16,000 homes across the South East, enhanced its customer support offer, maintained its headline customer satisfaction at 80% and improved customer satisfaction with the repairs service from 73% last year to 83% this year.

During the year, Paradigm:

• Completed 446 new affordable homes
• Invested £38.3m in repairing and improving its homes, completing over 37,000 repairs and replacing 1,200 key components (kitchens, bathrooms, windows, boilers etc)
• Improved the average SAP rating of its homes with the % with an EPC C rating or above now at 73.3%
• Reduced four-week average arrears to 3.02%
• Increased the number of homes in management to 16,237
• Relet 518 homes.

Nicola Ewen, Chief Financial Officer, said of the results: “I am pleased the results demonstrate that we are delivering against our corporate plan while maintaining our position as a financially robust organisation with substantial liquidity, covenant headroom, unencumbered assets and strong margins in what has been a challenging year.

“While we have made some adjustments to our ambitions in terms of delivery of new homes and spending plans going forwards, our strong metrics give us a good platform to continue to deliver on our corporate plan, despite the ongoing challenges faced in the wider economy.”

You can read the Financial Statements in their entirety here.