Housing association L&Q sees surplus tumble after fresh writedown

By Joey Gardiner2022-09-06T06:00:00

Series of impairments reduces figure by £53m

Housing association giant L&Q Group has been forced to make major additional write downs in its accounts wiping out more than a quarter of its expected surplus for the 2021/22 financial year.

The 107,000-home association said that the additional impairments reduced its anticipated surplus after tax by £53m from the £207m it reported in a trading update in May, to just £154m in its final audited accounts.

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