Paradigm announces our 2023–24 financial statements

We have published our financial statements for the year ending 31 March 2024 reporting a surplus of £20.6m and a strong operating margin of 35%.

During the year, Paradigm:

Completed 504 new affordable homes

Secured 637 new plots with the pipeline now full to meet our five-year corporate plan target of 1,950 new homes by 2026.

Investment of £47m in home repairs and improvements, including over 38,500 repairs and replacing 1,352 key components (kitchens, bathrooms, windows, boilers and more)

Improved the energy efficiency of our homes with the % of our homes with an EPC C rating or above now at 71.4%

Delivered our first full retrofit to a scheme, improving its thermal efficiency to EPC B or higher, and reducing customers energy bills up to 50%.

Increased our homes in management to 16,667

Relet 441 homes to new customers

Nicola Ewen, Chief Financial Officer, said of the results: “The Group has maintained focus on its objectives despite the continued challenging operating environment. We have achieved upper quartile performance for customer, staff engagement and financial metrics, continued to build new homes and invested significantly in our existing homes. We have upheld our reputation with our regulators, investors and lenders as we maintain our position as a financially robust organisation with substantial liquidity, covenant headroom, unencumbered assets and strong margins”.

You can read the Financial Statements in their entirety here.