State of the Sector Analysis FY21/22
Presenting the definitive headline financial results from the Vantage Global Accounts Plus analysis
Social Housing Lettings
Social Housing Lettings made up 74% of the total turnover and is broken down as follows:
TURNOVER BY SEGMENT: CORE SOCIAL HOUSING
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“This report provides in-depth insight for the executive team into the sectors performance based on geography and size. Last year, we built upon this by commissioning Vantage to produce a tailored financial report for us including all the VfM sector metrics and then presented to our Board as part of our strategic away day. This helped us understand our position and identify our targets as part of our VfM strategy.”
Mona Shah, Executive Director of Finance & Business Services, Grand Union Housing Group
We have analysed overall operating margin for FY21/22 and compared to FY20/21. Our analysis shows the overall operating margin was £4.93BN for FY21/22, a 1.9% decrease on FY20/21.
Repairs and Maintenance Costs
Overall Repairs and Maintenance Costs (including capitalised costs) were £5.50BN in FY21/22 compared to £4.44BN in FY20/21, a 23.7% increase. Capitalised components spend was £1.90BN in FY21/22 compared to £1.27BN in FY20/21, a 49.6% increase.
The biggest driver behind the increase is the significant increase in asset investment expenditure which bounced back from FY 20/21 when Covid-19 lockdowns had a significant impact on delivery. Despite the supply chain issues facing many, this is higher than the pre-pandemic levels.
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“The State of the Sector report is a really valuable resource. We commissioned Vantage to help us with our VFM reporting and peer analysis. Gaining access to data is always problematic and time consuming but Vantage were able to turn this around in a matter of days. They produced an intelligent tailored VFM report and valuable insight into our performance which prompted many discussions on sector best practice. The analysis work has shown us that our performance levels are really strong, and we are on the right track to meet our corporate plan.”
Sam Morgan, Finance Director Rooftop Housing Group