Derwent Living kicks off our series bringing you the highlights of the latest annual reports
Derby-based Derwent Living – formerly Derwent Housing – enjoyed a 13.4% increase in turnover this year thanks to opening extra student accommodation.

Sales of 42 market rented properties for £781,000 more than their 2002 valuation helped to push up pre-tax profits from £2m to £3.2m.

Bad debts on general needs housing dropped by almost 1% to about £114,000. However, voids levels rose as a result of a policy to keep homes empty during a period of upgrades, costing the association an extra £90,000 in lost rent.

The association built 62 flats for postgraduates in Coventry and signed a 102-home contract for hospital workers in South Derbyshire.

It will begin work on further accommodation for hospital workers and students in Derby, Loughborough and Nottingham this year.

Units: 6216, including 2835 social rented, 1672 student accommodation, 556 market rented or key-worker, 442 shared ownership Turnover: £16.967m (2003), £14.967m (2002) Surplus after tax: £1.939m (2003), £1.403m (2002)

Source

Housing Today