Following its AGM on Monday, Southern Housing Group has published its financial accounts for 2012/13 online.
The accounts show that the Group continues to perform well, particularly in light of the changes in the industry, such as the reduction in development grants and the Government's Welfare Reforms.
In the 2012/13 financial year, the Group had a turnover of £180.7m, an increase of £45.6m from the previous year. The Group also showed a major increase in its surplus, up to £38.8m from £17.9m in 2011/12. Much of the increase in turnover can be attributed to market related activity which performed strongly whilst there has been an equally strong improved performance on core housing management activities.
Group Finance Director, Rosemary Farrar said, "We have built a strong business by being both conservative and responsive to the changing nature of the industry. We are very proud of that approach.
"Our focus on running an efficient business and a constant focus on achieving value for money, along with our stock rationalisation programme, have helped us achieve such a good result.
"The accounts also reflect the diversity of our business. While we maintain our core business of housing those in need, we are also a developer of homes, we provide a range of community and resident support programmes and we offer shared ownership and outright sale properties."