Housing association’s surplus hit by contractor failure and cyber attack

By Carl Brown2023-04-28T10:36:00

Source: Clarion/Hadley Property Group/Stockwool

Housing association giant reduces development spend in “cautious approach”

Clarion’s surplus has fallen 45% due to the failure of a contractor, refinancing costs and a cyber-attack, it has announced.

The housing association giant, in a quarterly trading update today, said its pre-tax surplus for the 2022/23 financial year was £101m, down from £186m the previous year.

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