STRONG FUNDAMENTALS FOR UK HOUSING MARKET
- Market demand underpinned by growing population and limited housing supply
- Structural shift post COVID-19 with strong demand for homes outside of major cities
- COVID-19 initiated changes to agile working with customers contemplating a future of less commuting and more home working
- Government continues to play an important role in supporting house buyers e.g. Help to Buy, the second phase of which has been extended to 2023
- The lending environment continues to be supportive with long-term low interest rates and good mortgage product availability.
ATTRACTIVE LAND PORTFOLIO
- Extensive and desirable land portfolio with developments that are primarily concentrated in Southern England and the commuter belt to major towns and cities, especially London
- Limited exposure to inner city developments
- Reputation for placemaking enables us to secure sites in desirable locations.
BRAND SYNONYMOUS WITH QUALITY AND GREAT PLACEMAKING
- Established brand name with strong heritage associated with quality
- Strong reputation for placemaking and for creating attractive, sustainable communities
- Underpinned by a five-star customer rating.
MULTI CHANNEL APPROACH - DIVERSIFIED INCOME STREAM
- Providing resilience and diversified income streams by having more than one route to market
- Private Rented Sector (PRS) is a well-capitalised, growing asset class providing dependable yields
- Dedicated partnership team with clear vision and strong relationships with Registered Providers (RPs) and PRS partners.
COMMITMENT TO BALANCING STRATEGIC OBJECTIVES WITH RESPONSIBILITIES TO THE ENVIRONMENT AND WIDER SOCIETY
- Sustainability Committee, chaired by Chief Executive, now oversees all Environmental, Social and Governance (ESG) matters
- Clear targets to reduce our carbon emissions (scope 1 and 2) intensity by 25%, waste intensity by 15% and to purchase 100% renewable electricity by 2025
- Listed in the FTSE4Good and the Carbon Disclosure Project indices.
ROBUST BALANCE SHEET WITH SIGNIFICANT OPPORTUNITIES TO RE-BUILD MARGINS
- Strong balance sheet with year end net cash position of £142.2m and £250m revolving credit facility fully undrawn
- Continued focus on work-in-progress and enhancing cash flow generation
- Dividend reinstated on two and a half times cover basis from HY21.