Glasgow Housing Association spent £50m less than it had planned on improving its stock last year.

The association spent £59.6m on improvements in 2003/4 – its first full year in control of the city’s 78,500 homes. GHA attributed its failure

to spend more on delays caused by its insistence that contractors provided good value for money.

GHA, Britain’s largest social landlord, reported turnover of £218.1m for 2003/4. Operating expenditure was £141.8m, the bulk of which was spent on staffing costs and day-to-day repair work.

As predicted (HT 3 July, page 17), GHA’s cash reserves at the end of the year reached almost £100m.

In the association’s annual report, chief executive Michael Lennon wrote: “The year presented us with many formidable difficulties. Some were foreseen, some were not, and a few remained troublesome at the end of the year. We have, however, ended the year in an infinitely stronger position than we started.”

Lennon identified six areas that GHA will focus on over the next year. These are: increasing employment for local people; improving the environment; improving safety in GHA neighbourhoods; supporting older tenants; tackling fuel poverty; and increasing access to welfare.

Source

Housing Today

Postscript

Home Group reported a turnover of just over £202m for 2003/4. It ended the year with a surplus of £3.4m.