Abri Group reports another strong year of performance as it publishes its 2022/2023 Annual Report. The group’s latest report demonstrates its financial resilience and strength as it continues to work towards its 2025 strategic objectives.
In the last year, Abri's focus has continued to be on investing and improving its existing homes and services. The group saw its largest ever investment of £85m into existing homes, going towards building and fire safety, energy efficiency and general repairs and maintenance. Tackling damp and mould has been high on the group’s agenda with more than £1m invested in addressing the root cause of damp and mould.
Abri continues to work towards its commitment for its homes to reach a minimum of EPC Band C by 2030. To support energy efficiency works, in March 2023 Abri benefitted from funding from the Social Housing Decarbonisation Fund Wave 2, as a leading member of the Greener Futures Partnership which received £40.4m following a successful joint bid.
As the cost of living crisis continues, Abri remains committed to supporting its customers. In the 2022/2023 financial year Abri invested £3.7m in cost of living support directly for its customers and through community investment. The Group also helped customers secure £3.4m to which they are entitled, through its Tenancy Support Services and launched a Cost of Living Hub full of advice and guidance which can be found here.
The need for more affordable housing in its region could not be greater. Abri developed 1,017 new homes in 2022/2023, its largest number within a year to date. The homes will support more people have a safe place to call home and enable others to secure homeownership. Supported by its Strategic Partnership with Homes England, joint ventures and partnership, Abri is investing £2.6bn to achieve its objective of delivering 10,000 new homes by 2030.
Gary Orr, Abri Group Chief Executive said:
“Abri continues to fulfil its stated ambitions, delivering more than ever before for our customers and communities. I’m proud that we have been able to achieve our highest investment in existing homes and record number of new build homes, in a year, to date. We continue to place customer-facing teams and our customers voices at the centre of our business. With our recent announcement that Silva Homes have joined the Abri Group, Abri’s new regional approach to service delivery will ensure our colleagues are even more visible, accountable and empowered to meet the specific needs of our customers and diverse communities. Abri continues to look forward with both confidence and optimism.”
In 2022/2023 Abri retained its G1/V1 from the Regulator of Social Housing and A3 Moody’s credit rating. Abri’s full 2022/2023 Annual Report and financial statements can be found here.